A North Korean woman and soldiers near the North Korean town of Sinuiju.
REUTERS/Jason Lee
North Korea's military, the fourth-largest in the world, remains shrouded in mystery.
Both men and women are required to serve in the military in North Korea.
Kim Jong Un, the supreme leader of North Korea, has no formal military training.
Little is known about life inside the "hermit kingdom" of North Korea. Even less is known about the country's military — the fourth-largest in the world behind China, India, and the United States, according to World Population Review.
It remains extremely difficult to get past the border, but photos can provide a glimpse into the insular, militarized country.
Rare photos of North Korea's military reveal a snapshot of life as a soldier in North Korea.
This story was originally published in May 2016. It was updated in May 2024.
North Korea and South Korea were split after the Korean War, which began in 1950 when 75,000 soldiers from the North crossed the border and invaded the South.
North Korean and Chinese troops celebrate their shared victory in South Korea after driving back American forces in 1950.
Keystone-France/Gamma-Keystone via Getty Images
The war ended in 1953 with an armistice dividing the country along the 38th parallel, with the Soviet Union controlling the North and the UN controlling the South.
Kim Il Sung signs the Korean Armistice Agreement.
Sovfoto/Universal Images Group via Getty Images
The Korean Armistice Agreement also established a Demilitarized Zone on the border, which remains one of the most heavily guarded borders in the world.
South Korean, right, and North Korean army soldiers stand guard at the border village of Panmunjom in the demilitarized zone (DMZ) between the two Koreas.
Ahn Young-joon/AP
The Soviet Union put Kim Il Sung in charge of North Korea, which became known as the Democratic People's Republic of Korea.
Kim Il Sung.
Edoardo Fornaciari/Getty Images
His son, Kim Jong Il, took over after his death in 1994.
North Korean leader Kim Jong-Il meets with Korean People's Army personnel.
AFP via Getty Images
Kim Jong Un then took over as the ruler of the country in December 2011, when his father and the former leader, Kim Jong Il, died of a heart attack.
North Korean leader Kim Jong Un gestures as he guides a military demonstration involving tank units in North Korea.
KCNA via Reuters
Despite being in charge of the fourth-largest military in the world, Un has no formal military training.
North Korean leader Kim Jong Un peers through a pair of binoculars during a military demonstration in North Korea.
KCNA via Reuters
North Korea's military is called the "Korean People's Army," or the KPA.
Senior North Korean military officers.
Damir Sagolj/Reuters
The North Korean military is composed of more than 1.3 million active soldiers, according to a 2021 report published by the US Defense Intelligence Agency.
A North Korean military parade.
KCNA/Reuters
There are another 7 million paramilitary, reserve, and bodyguard command personnel.
North Korean soldiers salute from atop tanks during a military parade in Pyongyang.
Petar Kujundzic/Reuters
Most people serve in the military after completing high school.
North Korean soldiers.
Damir Sagolj/Reuters
Men serve for 10 years and women for seven, a North Korean defector told NK News, The Guardian reported in 2015.
North Korean soldiers do push-ups on the banks of the Yalu River in the North Korean town of Sinuiju.
Before 2015, women served purely on a voluntary basis.
Women in the Korean People's Army.
REUTERS/Jason Lee
In 2015, it became mandatory for all women to serve in the military.
A North Korean soldier guards an army installation near the Chinese border.
Reinhard Krause/Reuters
Those who go to college serve for five years after completing their degree, the defector told NK News.
Korean People's Army soldiers hold flowers as they pay their respects before a statue of late North Korean leader Kim Jong Il on the anniversary of his death.
KIM WON JIN/AFP via Getty Images
Kim Jong Un established a policy in 2015 allowing those who study science to serve for only three years.
North Korean soldiers ride motorcycles during a military parade.
Damir Sagolj/Reuters
While data from North Korea remains unreliable, its defense industry employs an estimated 2 million workers, according to a 2008 census cited by 38 North.
North Korean leader Kim Jong Un poses with soldiers as he inspects a tank unit of the Korean People's Army.
KCNA via Reuters
Most motor vehicles are owned by military or government officials. Restrictions on car ownership mean it's rare for private citizens to own them.
Soldiers in the military have reportedly faced malnourishment and hunger because of a lack of food availability and rigorous training.
A North Korean soldier herds goats on the banks of the Yalu River.
Jacky Chen/Reuters
Source: NK News
KPA's Air Force is its second-largest branch with around 110,000 members.
Kim Jong Un visits the Korean People's Army Air Force headquarters.
KCNA via Reuters
The US Department of Defense reports that North Korea's Air Force has somewhere between 500 and 900 aircraft, though most are outdated vessels from the 1990s.
Kim Jong Un watches planes during a flypast in Pyongyang, North Korea.
KCNA via Reuters
The North Korean military is also believed to have 260 amphibious landing craft in its naval force.
Landing and anti-landing exercises by the Korean People's Army at an unknown location.
KCNA/Reuters
In 2023, North Korea held a launch ceremony for a reworked Cold War-era submarine with missile capabilities, though it's unclear if the sub is operational.
North Korea's new "tactical nuclear attack submarine" at its launch ceremony.
The North Korean missile program began development in the late 1960s.
A North Korean soldier guards a missile.
Damir Sagolj/Reuters
The full scope of North Korea's ballistic missile capabilities is unclear, but the military is believed to be in possession of long-, medium-, and short-range missiles.
Kim Jong-un attends a test launch of a missile.
KCNA via Reuters
In 2021, the Bulletin of the Atomic Scientists estimated that North Korea could possess enough fissile material to produce 40 to 50 nuclear weapons.
Silicon Valley Bank, Signature Bank, and First Republic are among the largest bank failures in US history. But more banks could fail, according to Fed chair Jerome Powell.
Bruce Nordstrom, former chairman of the family-run department store chain, has died.
His grandfather started the business in 1901, which later grew into a fashion empire.
Nordstrom's two living sons, Pete and Erik, are the company's President and CEO, respectively.
Bruce Nordstrom, the former chairman of the eponymous department store chain, has died at the age of 90.
Grandson of founder John W. Nordstrom, Bruce was instrumental in bringing the retailer to international prominence in a career that spanned four decades.
Bruce's eldest son Blake died in 2019 after a bout with lymphoma, and his two living sons, Pete and Erik, are now the company's President and CEO, respectively.
Here's how the Nordstroms built their empire from a single shoe store in Seattle to one of the biggest names in fashion retail.
Nordstrom was founded as a shoe store by John W. Nordstrom and Carl F. Wallin in Seattle in 1901.
A Nordstrom sign showing the year the company started.
Shutterstock
Two decades later, the partners opened a second store in Seattle's University District.
John Nordstrom retired in 1928 and sold his share to his sons Everett and Elmer.
A Portland, Oregon, Nordstrom store in 2015.
Shutterstock
Wallin retired soon after and sold his share of the company to the Nordstrom sons too. John's third son, Lloyd, later joined the team.
John Nordstrom's sons focused on expanding into women's clothing.
Mannequins at a Nordstrom department store.
Business Insider/Jessica Tyler
Nordstrom purchased the Seattle-based clothing store Best's Apparel in 1963. Three years later, the company purchased a Portland, Oregon-based clothing store and began offering both shoes and apparel under the name Nordstrom Best. The company added men's and children's apparel in 1966.
In 1968, the three Nordstrom brothers handed the company over to the next generation.
Bruce Nordstrom.
Getty Images
Everett's son Bruce, Elmer's sons James and John, Lloyd's son-in-law Jack, and family friend Bob Bender became the new heads of the company. The third generation of Nordstrom chairmen took the company public in 1971, formally renaming it Nordstrom Inc.
The first Nordstrom Rack opened in the basement of the downtown Seattle store in 1973.
A Nordstrom Rack location in New York.
Business Insider/Mary Hanbury
That same year, the company became the largest-volume fashion specialty store on the West Coast, with sales surpassing $100 million. The chain continued to expand throughout the next several decades.
In 1995, Nordstrom's third generation handed the reins over to the fourth.
Blake, Pete, Erik, and Jamie Nordstrom in 2007.
John Wilcox/MediaNews Group/Boston Herald via Getty Images
The elder Nordstroms retired as co-chairmen, but remained on the Board of Directors, and Bruce's sons, Blake, Pete, and Erik, took over the company in 1995.
Bruce's oldest son Blake became co-president in 1995.
Vince Talotta/Toronto Star via Getty Images
Blake began working in the family business when he was about 11 years old. His first role with the company was in the stockroom, and he went on to hold many roles with the company, including merchandise buyer, regional manager, and then vice president in charge of stores in Washington and Alaska.
Erik Nordstrom worked for his older brother in various positions at the company as the two rose through the ranks together.
Blake and Erik Nordstrom.
Getty Images
"It was always the best working for my brother because he had more confidence in me and gave me more autonomy than anybody I had ever worked for," Erik Nordstrom said in his father's 2007 book, "Leave It Better Than You Found It."
Bruce returned as chairman in 2000, retiring for a second time in 2006.
Bruce Nordstrom.
Getty Images
Bruce and his sons were credited with turning the company around after several years of underperformance by non-family leadership.
Throughout the 2000s, Nordstrom partnered with fashion brands like Façonnable, Topshop, HauteLook, and Jeffery.
A store display of Topshop apparel and accessories.
Business Insider/Jessica Tyler
And in 2014, the company started expanding internationally. It opened stores in Canada and Puerto Rico.
Nordstrom opened its first menswear-only store in 2018, and a flagship womenswear store in 2019.
Nordstrom's menswear shop.
Business Insider/Mary Hanbury
The concept combines in-store services such as tailoring, shoe shining, and food, with high-tech digital ordering and returns systems.
Blake died in 2019 at the age of 58, passing control of the company to his brothers.
Blake Nordstrom at a Nordstrom Rack in 2018.
Vince Talotta/Toronto Star via Getty Images
"Blake was the best big brother, friend and mentor anyone could ever ask for," Pete and Erik Nordstrom said in a note to employees. "One of the things that brings us some comfort is that Blake's values, character and passion can still be reflected in what this company does – how we treat each other, our customers and our communities. Building on that is the best way we can think of to honor his legacy."
In April, Pete and Erik revealed that the company is exploring options to go private.
Erik, left, and Pete Nordstrom in 2012.
Frank Franklin II/AP
In regulatory filings, the brother said they had not yet received any financing commitments to complete such a deal.
In May, Bruce died at his home at the age of 90.
Bruce Nordstrom in 2018.
Getty Images
Nordstrom died on May 18.
"Our dad leaves a powerful legacy as a legendary business leader, a generous community citizen and a loyal friend," Pete and Erik said in a statement.
Jessica Tyler contributed to an earlier version of this story.
Janet Yellen told The New York Times that G7 leaders will discuss the details of a loan program for Ukraine.
The loan would use proceeds from Russia's frozen asset and potentially offer a $50 billion lifeline.
The aid could offer Ukraine a means of survival as Moscow amplifies its offensive.
The US and its allies are getting serious about a plan to finance Ukraine using interest earned on Russia's frozen assets. Under the idea, these profits would be bundled together into a sizable loan, a possible means of survival for Kyiv.
"Showing that we do have the means of translating earnings on the frozen assets into a stream of support for Ukraine, I think, is an important way to demonstrate that we're not about to fold," Treasury Secretary Janet Yellen told The New York Times. "We're going to be able to help Ukraine."
Though not the only option available, it's the most promising suggestion on how to best use the $300 billion worth of Russian reserves, she said. These foreign assets were made inaccessible to the country in 2022, shortly after Moscow launched its invasion of Ukraine.
If the Group of 7 leaders are able to finalize the loan's details in a meeting next week, it could make this a reality for Ukraine. So far, reserves have sat untouched in depositories, such as Euroclear; there, a trove worth $206 billion is generating over $3 billion in interest a year.
According to NYT, a loan based on the accumulated interest could offer Kyiv an up-front lifeline of $50 billion.
However, particulars still need to be agreed upon. G7 leaders need to decide how to deliver the funds or how the loan will be repaid if interest rates fall, tanking the proceeds.
Such questions are the latest in a long line of discourse between Western leaders on how to use frozen Russian assets. Previously, some countries were ready to tap the reserves themselves, while others protested the idea as a dangerous move. Meanwhile, counterparts in Russia have voiced warnings of retribution if the reserves are grabbed.
"I think we see considerable interest among all of our partners in a loan structure that would bring forward the stream of windfall profits," Yellen said.
While this has meant months of G7 negotiating, finding a common-ground solution is now taking on rapid seriousness, as Ukraine's ability to hold off Russia is becoming ever-more questionable.
"I think we see considerable interest among all of our partners in a loan structure that would bring forward the stream of windfall profits," Yellen said.
On Monday, Ukrainian President Vlodimir Zelenskyy expressed frustration behind constant delays in Western aid.
"Every decision to which we, then later everyone together, comes to is late by around one year," he told the outlet. With Russia's offensive efforts mounting, Zelenskyy has urged Western allies to get involved more directly, such as by shooting down Russian rockets.
Microsoft unveiled its new AI-powered Copilot+ PCs at a press event.
Copilot+ PCs offer up to 20 times more AI power and 22 hours of battery life, according to Microsoft.
Pre-orders start today at $999, with availability from June 18 from brands like Microsoft Surface, Dell, and HP.
Microsoft's AI-powered PCs are here.
Microsoft just unveiled a new line of Windows PCs designed for AI at a press event Monday.
The new line, called Copilot+ PCs, is the fastest and most intelligent Windows model of a PC built yet, according to Microsoft.
"We have completely reimagined the entirety of the PC — from silicon to the operating system, the application layer to the cloud — with AI at the center, marking the most significant change to the Windows platform in decades," the company said in its announcement.
Microsoft is launching Surface Copilot+ PCs, with the new Surface Pro and Surface Laptop, but it's also working with its hardware partners, who will also be launching their own Copilot + computers.
There's also some cool-sounding AI features, including some powered by the on-device AI chips.
The most notable is "Recall," which Microsoft says is basically like if your PC had "photographic memory" and could remember everything you looked at on your PC, helping you quickly recall where you stored something.
"You can scroll across time to find the content you need in your timeline across any application, website, document, or more," Microsoft said. "Interact intuitively using snapshots with screenray to help you take the next step using suggested actions based on object recognition. And get back to where you were, whether to a specific email in Outlook or the right chat in Teams."
Microsoft says the PCs are up to 20 times more powerful for AI and also offer improved battery life, with up to 22 hours on a single charge. The new chip architecture combines CPU, GPU and high-performance Neural Processing Units for efficient AI processing.
Pre-orders for the new PCs start today, with prices starting at $999. In addition to Microsoft's Surface PCs, the new Copilot+ computers will be available from six PC brands starting June 18, including Dell, HP, and Lenovo.
But months after the grounding was lifted, there are still restrictions in place that significantly limit the aircraft's ability to operate, Military.com has learned.
The services are barred from flying the controversial tiltrotor aircraft more than 30 minutes away from a suitable airfield to divert to in case anything goes wrong. That has caused some of the services, such as the Navy, to continue relying on other aircraft to accomplish tasks that the Osprey would have taken on.
Cmdr. Beth Teach, a spokesperson for Naval Air Forces, confirmed to Military.com on Thursday that the restriction was handed down by the V-22 Joint Program Office, part of Naval Air Systems Command, and is a requirement that all the services are following.
US Marines taxi an MV-22B Osprey down the flightline at Royal Australian Air Force Base.
US Marine Corps photo by Cpl. Juan Torres
It was not immediately clear what would constitute a suitable landing zone for the tiltrotor aircraft which, by design, is meant to land quickly like a helicopter in austere conditions.
The Joint Program Office declined to comment to Military.com regarding the restriction.
A spokesperson for the Marine Corps could not provide details on the restriction but said efforts are underway to return the aircraft to full operations.
"Operational security associated with our forward-deployed Marines and sailors limits our ability to provide details regarding any potential platform restrictions," Capt. Pedro Caballero, a spokesperson for the Marine Corps, told Military.com when asked whether the restrictions applied to its roughly 350 Ospreys, the vast majority of the military's fleet.
"The Marine Corps, after a thorough review of all available engineering data and with revisions to the flight manual in place, is now enacting a deliberate plan to return all 17 MV-22 squadrons to full capability," Caballero said. "The Marine Corps' three-phased approach begins with a focus on regaining basic flight currency, rebuilding units' instructor cadres, and achieving proficiency in core and basic skill training for pilots and aircrew."
US Marine Corps MV-22B Ospreys take off at Port Darwin in Australia.
US Marine Corps photo by 1st Lt. Colton Martin
Lt. Col. Rebecca Heyse, a spokesperson for Air Force Special Operations Command, told Military.com that the service is following the Joint Program Office's guidance for their return to flight plans but didn't provide additional details about current flight restrictions.
That restriction was publicly identified in a House draft text of the national defense authorization bill released this week. The bill details limitations and woes with the Navy's variant, the CMV-22, and how it's forcing the sea service to continue to rely more heavily on its aging C-2A Greyhound fleet, lawmakers wrote.
"The committee understands that current CMV-22 operations are limited to flights and missions that stay within 30 minutes of a suitable divert airfield," according to the House Armed Services Committee document. "This prohibits the use of the CMV-22 for carrier onboard support of deployed aircraft carriers once they have left their homeport."
The Navy used the Greyhound, which has been in service for 60 years and is slated to be retired by 2026, to fill the gaps when the Ospreys were grounded, but even though the Osprey is flying again, it appears the service is still relying on the planes.
An MV-22B Osprey conducts an external lift with US Marines during helicopter support team training at Marine Corps Air Station in Miramar, California.
US Marine Corps photo by Cpl. Amelia Kang
That raised concerns for lawmakers who asked the Navy to provide House Armed Services with a report by February 1, 2025, on how the service will adjust once the C-2A is no longer available.
"With no other option available, the committee supports this interim solution but recognizes it is not a viable long-term solution beyond 2026," the draft bill said.
All of the services have been cautiously returning to the skies following a November 29 Air Force special operations Osprey crash off the coast of Japan that killed all eight service members on board — the deadliest CV-22 crash in the service's history — and led to a monthslong, military-wide grounding of the aircraft.
Military.com reported earlier this month that the Air Force had begun conducting flight checks for its Osprey variant, the CV-22. The Marine Corps and the Navy began flying some of their aircraft in March, the same month the Joint Program Office gave the OK to resume operations.
US Marines walk across the flight line after flying in an MV-22B Osprey at Royal Australian Air Force Base in Darwin, Australia.
US Marine Corps photo by Cpl. Juan Torres
The Osprey Joint Program Office provided few details on what mechanical failure led to the deadly crash and how it planned to fix it.
"We have high confidence that we understand what component failed, and how it failed," Marine Corps Col. Brian Taylor, the manager of the V-22 program, told reporters in March. "I think what we are still working on is the 'why.'"
Meanwhile, the Osprey is looking at a makeover that officials hope will keep the aircraft flying until at least 2055 — and beyond.
The Joint Program Office, which oversees the V-22's development and operations, is looking to replace aging components in the aircraft's cockpit, as well as test solutions for a mechanical issue that has led to more than a dozen mishaps in its operational lifespan.
"There's a ton of life left in this platform, and there's a ton of mission left in this platform," Taylor said last month at the Modern Day Marine Expo in Washington, DC.
The mechanical issue the program office hopes to address involves a notorious clutchproblem, called a "hard clutch engagement," which contributed to a crash in 2022 that killed five Marines. It is also known to have been involved in at least 15 other V-22 incidents since 2010.
A US Marine prepares an MV-22 Osprey for departure at Camp Lemonnier, Djibouti.
US Air National Guard photo by Staff Sgt. Juan Paz
Taylor mentioned that the program office oversaw the disassembly of clutches within the aircraft, including V-22s with 2,000 hours of flight and those with less than a hundred, which "helped us better understand this environment inside of this clutch assembly," he said.
He added that a new prototype for one of the likely culprits causing this issue — the input quill assembly — will be tested within the next month. That prototype includes 15 design changes, he said.
"When you purchase aircraft over about a 30-year span, you end up with some configuration challenges," Taylor said. "And that's what we're still kind of working through."
While operations are limited, Taylor said that Ospreys are abundant in the air — and have been for more than two months.
"I haven't done this math problem, but it's pretty safe to say that 24 hours a day, there's a V-22 flying somewhere on the planet … doing our nation's business," he said.
JPMorgan CEO Jamie Dimon has long been mentioned as a potential Treasury secretary under presidents from both parties.
Tom Williams/CQ-Roll Call, Inc via Getty Images
JPMorgan CEO Jamie Dimon is talking about retirement.
At an investor day Q&A, Dimon joked he was planning to step down within five years.
Dimon said the plan to find a successor is "well on the way."
Jamie Dimon may be retiring sooner than we thought.
At an investor day Q&A on Monday, the JPMorgan CEO broke from his usual joke that he'll retire in five years.
When asked about his succession plan, Dimon seemed to acknowledge that he's thinking of stepping down when he joked that the timetable is "not five years anymore."
The bank boss also said the plan to name his successor is "well on its way" and floated staying on as chairman after he steps down.
"We're moving people around," Dimon, 68, said during the Q&A.
Wall Street has speculated for years about who will take over for Dimon when he eventually leaves JPMorgan.
Jennifer Piepszak and Marianne Lake, two key longtime executives, have been rumored to be next in line at the investment bank. But Troy Rohrbaugh, who was named co-CEO of JPMorgan's commercial and investment bank with Piepszak, has recently emerged as a dark horse candidate to take the CEO job.
JPMorgan COO Daniel Pinto has long been the emergency backup CEO in case Dimon needed to leave on short notice.
Dimon said his succession — and even when he leaves the job — is up to JPMorgan's board.
"I have the energy I have always had," he said at the investor day event.
Dimon didn't share more about the succession plan.
The CEO's comments echo last year's investor day event, where Dimon said he can be "intense" with his managing style and noted: "I think when I don't have that intensity, I should leave."
Many investors own ASX dividend shares with the aim of receiving passive income. These types of stocks pay out dividends (usually twice yearly but sometimes monthly) after generating profit from their operations.
There are several different dividend strategies investors can adopt. Some may focus on high-yield stocks, others may like dividend-paying stocks from resilient industries, and some may prefer businesses that are growing their payouts at a fast rate but currently have a relatively low dividend yield.
But there’s also another compelling way to earn income from shares that doesn’t involve dividends, as recently highlighted by the sister of investing legend Warren Buffett.
Bertie Buffett has revealed a great strategy to create the income she needs from her ownership of Berkshire Hathaway shares. Her method can be used by anyone with a sizeable investment balance without needing to receive dividends from their own shares.
Berkshire Hathaway is a huge, listed US business that invests in other shares and also operates many private businesses. Warren Buffett, one of the world’s greatest-ever investors, has led Berkshire Hathaway for decades, helping it become the American powerhouse it is today.
As well as being Warren Buffett’s sister, Bertie Buffett is a long-time shareholder of Berkshire Hathaway. She’s also front and centre in Warren Buffett’s mind when he writes his annual shareholder letter.
Berkshire Hathaway famously doesn’t pay dividends, so let’s look at how Bertie is generating cash flow through her ownership of the company’s shares.
How Buffett’s sister generates passive income
Bertie Buffett recently spoke to CNBC’s Becky Quick. Bertie used to expect dividends from her investment portfolio, but changed her mind after receiving some advice from her famous brother.
Warren Buffett suggested Bertie simply sell a portion of her shares to unlock the cash flow she needs.
I’ll give you an example of how this could work. Imagine Bertie owned $100,000 of Berkshire Hathaway. If the Berkshire Hathaway share price gained 10% in a year, it would then be worth $110,000. Bertie could sell $4,000 worth of shares and achieve a 4% ‘dividend yield’ on her original $100,000.
Of course, Bertie might be unlocking $100,000 of passive income at a time rather than $4,000! What are some of the attractions of this method? Bertie explained in the CNBC interview:
…I can decide when I declare a dividend, I can declare one for myself you know in essence by selling some stock and I can choose when I’m going to do it and choose how much it is. And it’s capital gains instead of regular income tax and that’s good.
How to apply this to ASX shares
We can utilise this strategy ourselves to sell ASX growth shares and unlock passive income cash flow.
Of course, one would need a sizeable amount invested to make the capital growth and sale worthwhile.
If someone owned $1,000 worth of shares, for example, it wouldn’t make much sense to sell $50 worth (a 5% dividend yield) — that’s not a lot of passive income for the brokerage cost and effort of reporting the sale to the ATO.
In my opinion, one of the key advantages to Bertie utilising this strategy with her Berkshire Hathaway shares is the fact the US company has a diversified portfolio which steadily changes over time to ensure it’s future-focused (such as its investment in Apple).
For the most effective ‘Bertie Buffett’ strategy, I’d want to choose a well-diversified exchange-traded fund (ETF) that can deliver good capital growth and owns strong businesses with decent fundamentals.
Some of the leading ASX ETFs I’d choose for this strategy include the VanEck MSCI International Quality ETF (ASX: QUAL), Betashares Global Quality Leaders ETF (ASX: QLTY), VanEck Morningstar Wide Moat ETF (ASX: MOAT), and the BetaShares Global Sustainability Leaders ETF (ASX: ETHI).
Should you invest $1,000 in Betashares Global Sustainability Leaders Etf right now?
Before you buy Betashares Global Sustainability Leaders Etf shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Betashares Global Sustainability Leaders Etf wasn’t one of them.
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple and Berkshire Hathaway. The Motley Fool Australia has recommended Apple, Berkshire Hathaway, and VanEck Morningstar Wide Moat ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Donald Trump may win the 2024 presidential election, sending him back to the White House.
His second administration could be far more radical than the first one.
That includes efforts to gut the federal bureaucracy and reduce constraints on Trump's power.
In January 2025, Donald Trump may be sworn into office as the 47th President of the United States.
Despite his ongoing legal troubles, plenty of national polling shows the former president being either tied or leading President Joe Biden,
A second term for Biden could mean either more of the same or a flurry of new progressive policies, if Democrats gain control of both chambers of Congress.
Another Trump term, on the other hand, would likely entail a radical reversal from not just the previous four years, but even from Trump's first term in office.
Some of these proposals may depend on Republicans gaining control of both the House and Senate, a likely possibility — though not guaranteed — if Trump wins the presidency.
While not exhaustive, here's just some of what to expect in a second Trump administration.
Radically reshaping the federal bureaucracy
Perhaps the most unorthodox — and to some, frightening — aspects of Trump's planning for a second term involve restructuring the executive branch in a manner that would drastically increase presidential power.
That includes exercising more direct control over the hundreds of thousands of civilian servants who populate federal agencies — many of whom are apolitical, and often remain in their jobs across presidential administrations.
Trump has pledged to bring back "Schedule F," a classification for civil servants that was created — but never used — in October 2020. Biden later rescinded it after taking office. That classification was designed to skirt the typical job protections afforded to career civil servants.
Trump's plans also include bringing independent agencies — such as the Federal Communications Commission and the Federal Trade Commission — under direct presidential control, a departure from decades of precedent. That could also include the Federal Reserve, the country's central banking system, though that's less clear.
Lastly, he has pledged to bring back "impoundment," in which the executive branch refuses to spend money provided by Congress. That's been illegal since 1974, but Trump is pledging to challenge it.
One of the hallmarks of Trump's first term was that he was significantly constrained, both by his advisors and aspects of the federal bureaucracy. Taken together, these proposals show how that could change.
"The states are going to say. It's irrelevant whether I'm comfortable or not," Trump told TIME. "It's totally irrelevant, because the states are going to make those decisions."
But that doesn't fully address the complexity of the issue — and it's unclear how far other Republicans may go.
In an April interview with TIME, Trump refused to say whether he would veto abortion restrictions passed by a Republican-controlled Congress, insisting there "will never be that chance because it won't happen."
He has also refused to state his position on whether mifepristone — a medication that enabled an estimated 63% of abortions in the US in 2023 — should remain legal.
Some of his allies have called for the enforcement of a 19th-century law called the Comstock Act that could be used to outlaw the mailing of the pill, a move that would affect women in a variety of states.
The potential of mass deportations and ending some birthright citizenship
Trump is expected to take a far more harsh approach toward illegal immigration and border security if elected — including pledging to carry out a massive deportation operation that could include the use of the National Guard.
That could include new detention camps, according to Stephen Miller, the architect of much of Trump's immigration policy.
Miller told The New York Times that a second Trump administration would build "vast holding facilities that would function as staging centers" on "open land in Texas near the border."
Trump has also pledged to end so-called "birthright citizenship" for the children of people who entered the country illegally and are not citizens. But it could be tricky.
Trump advisor Stephen Miller at CPAC in March of last year.
Alex Wong/Getty Images
The US Constitution guarantees birthright citizenship via the 14th Amendment, which states that "all persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside."
Trump has pledged to sign an executive order making clear that those children are not "subject to the jurisdiction" of the United States — a move likely to be challenged in court.
Retribution against political opponents
Trump has pledged to appoint a special prosecutor to go after the Biden family, arguing that it's only fair given that he has faced criminal charges across a variety of jurisdictions for his "hush money" payments, his mishandling of classified documents, and his efforts to overturn the 2020 election.
It's part of a broader effort by Trump and his allies to curtail the independence of the Department of Justice, the nation's top law enforcement agency. Since the Nixon era, there have been strong norms around keeping the department at arm's length from the president, but some argue that shouldn't be the case — and that the present-day norms are a facade anyway.
Pardoning January 6 rioters
Trump has also promised to issue pardons for those who've faced federal convictions in connection to the January 6 assault on the US Capitol.
In a recent interview with TIME, he said that he would not pardon those who were "evil and bad," but claimed that many of the rioters were "ushered in" by Capitol Police.
Tariffs on all imported goods
If re-elected, the former president has proposed many protectionist policies, including universal 10% tariffs on all imported goods.
"I call it a ring around the country," Trump told TIME.
Experts have warned that such a policy would simply increase consumer costs while doing little to boost domestic manufacturing and jobs.
He has also pledged to work with Congress to pass a bill enacting "reciprocal" tariffs on goods from other countries: For example, if China were to enact a 100% tariff on products from the US, the US would enact a 100% tariffs on Chinese-made goods in return.
"I think that Israel has done one thing very badly: public relations," Trump told TIME, blaming Israel in part for the lack of progress on a two-state solution.
But if there's been one consistent throughline of the former president's foreign policy thinking, it's a suspicion of long-standing arrangements designed to underpin the global world order.
Perhaps the most significant change Trump wants to see is a "reevaluation" of the purpose of the North Atlantic Treaty Organization, an alliance between the US and Europe that dates back to the Cold War. Trump has long argued that the US is spending too much to defend the continent.
Trump has also argued that much of the existing foreign policy establishment in Washington, DC needs to be overhauled, deriding officials at the State Department and Pentagon as "warmongers" and members of the "deep state."
Tax policy
As president, Trump and the Republican-led Congress passed the 2017 Tax Cuts and Jobs Act, a significant overhaul of the tax code that included cuts to individual and estate taxes and a significant lowering of the corporate tax rate from 35% to 21%.
Much of those cuts, aside from the corporate tax cut, are set to expire in 2025. According to Bloomberg, Trump wants to extend those cuts in a second term.
More vaguely, Trump has also proposed taxing private university endowments to fund a new federally-operated university called the "American Academy."
Social Security and Medicare
It remains unclear whether Trump would seek cuts to Social Security and Medicare in a second term — he's historically said a variety of contradictory things on the matter.
In March, Trump said in a CNBC interview that there's "a lot you can do in terms of entitlements in terms of cutting," seemingly suggesting that he would pursue cuts to entitlement programs. His campaign later backtracked on those remarks, saying he simply wanted to "get rid of waste and fraud."
Democrats have been eager to highlight the possibility of Republican-led cuts to the programs, which primarily benefit older Americans, while Republicans have often insisted that they are not interested in making changes to those programs.
During the final year of Trump's presidency, his White House released a budget for Fiscal Year 2021 that included some cuts to Social Security benefits, though the document never became law.
Google CEO Sundar Pichai. His company is using more AI-generated answers — which raises concerns.
Justin Sullivan/Getty Images
Google is shifting to AI-generated answers for search queries to keep users on its site.
This shift raises concerns about the reliability of AI answers and the impact on web traffic.
The move risks disrupting Google's ad revenue model and the broader internet ecosystem.
Google is the internet's gatekeeper. You ask it a question, and it sends you to a site on the internet that can answer that question for you.
Except that's not really the case anymore. Google frequently tries to answer your question itself, on Google-owned real estate, so you have no need to go anywhere else. And now the company is super-sizing that effort with AI-generated answers that are going to be the standard reply for all search in the near future.
One problem with that plan is that generative AI engines just make things up. The other, more existential problem for both Google and the internet: If Google is answering all of your queries on its own site, why would you go anywhere else?
People who make a living putting things on the internet have been freaking out about this future for some time. But there's a risk for Google, too: If people aren't putting things on the internet, what will Google use to create answers?
The Atlantic's Charlie Warzel wonders about all of this and doesn't have an answer (Charlie does know how to get you to click on a story, though — call your story "The Toilet Theory of the Internet"). I don't think Google knows, either, which is partly why the company's answers to questions people are asking about all of this — including from CEO Sundar Pichai — are both vague and hard to take at face value.
One question I haven't seen addressed in most of these stories: Doesn't Google have to keep sending people to websites? Because selling sponsored links to websites is the economic engine that makes the $2 trillion company run. So this is all going to be messy — for Google, for web publishers, and the rest of us.