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Mellody Hobson uses childhood experiences to teach kids about finances: “It wasn’t about having a lot”

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It’s a subject many shy away from talking about publicly and with their families: Money.

“Wealthy families don’t want kids to be entitled. Families that struggle don’t want kids to be burdened, and both are robbing children of the opportunity to really anchor themselves in an issue that is going to be a part of their entire life,” said Mellody Hobson, the co-CEO and president of Ariel Investments.

Hobson has been on a lifelong mission to teach financial literacy.

“I think we have to bring money to the forefront for children, especially since these days money is very mystical since it spits out of machines and we pay for things on phones and cards.”

Her passion to help others is tied to her childhood, saying she grew up in a family that didn’t have financial wealth.

“We would get evicted,” Hobson said. “Our phone would get disconnected, lights turned off, and I said to myself, ‘I don’t want to live like this.’ It wasn’t about having a lot, it was about understanding how it works.”

Hobson credits her mother for making sure she understood money, explaining she knew how much the electric and phone bills were, along with the cost of their rent.

“I was 5 years old, she said, ‘Put the money on the cash register.’ We were at a restaurant when I got older, ‘calculate the tip, count the change.’ I remember her going to the bank and saying, ‘Look at how a bank deposit works.'”

Hobson’s new children’s book, “Priceless Facts About Money,” focuses on educating kids about finances.

“If we can unlock the mystery of money, we can help people end the trauma they have around money,” she said. “It starts in childhood. You learn all of your money habits from your parents.”

Through illustrations and fun facts, the book helps kids learn about money’s history and how it works. 

“It’s very, very important to understand that everything actually costs something and to start to put that in context over time.”



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Democratic Congressman on the party’s messaging, focus

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Democratic Congressman on the party’s messaging, focus – CBS News


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Democratic leaders are divided over what to blame for their 2024 election losses. Democratic Rep. Seth Moulton of Massachusetts joins “The Daily Report” to discuss the party’s messaging and focus.

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11/13: The Daily Report – CBS News

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11/13: The Daily Report – CBS News


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Lindsey Reiser reports on the reaction to President-Elect Trump’s latest leadership picks for his upcoming administration, what new data tells us about the state of the U.S. economy, and the potential impact of Trump’s proposed energy policies.

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Opioid overdose deaths drop for 12th straight month, now lowest since 2020

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Opioid overdose deaths have now slowed to the lowest levels nationwide since 2020, according to new estimates from the Centers for Disease Control and Prevention. This marks the 12th straight month of decline since a peak last year. 

Around 70,655 deaths linked to opioids like heroin and fentanyl were reported for the year ending June 2024, the CDC now estimates, falling 18% from the same time in 2023.

Almost all states, except for a handful in the West from Alaska through Nevada, are now seeing a significant decrease in overdose death rates. Early data from Canada also suggests overdose deaths there might now be slowing off of a peak in 2023 too.

“While these data are cause for optimism, we must not lose sight of the fact that nearly 100,000 people are still estimated to be dying annually from drug overdose in the U.S.” said Dr. Nora Volkow, director of the National Institute on Drug Abuse, in a statement.

Other types of drug overdoses beyond opioids are also slowing. While they make up a smaller share of overall deaths, overdoses linked to drugs like methamphetamine and cocaine are also showing signs of dropping nationwide following a peak last year. 

“We are encouraged by this data, but boy, it is time to double down on the things that we know are working. It is not a time to pull back, and I feel very strongly, and our data shows, that the threat continues to evolve,” Dr. Allison Arwady, head of the CDC’s National Center for Injury Prevention and Control, told CBS News. 

Arwady pointed to a long list of factors that officials hope are contributing to the decline, ranging from broader availability of the overdose reversing spray naloxone, also known as Narcan, to efforts to ease gaps in access to medications that can treat opioid use disorder.

Narcan and fentanyl test strips
Narcan and fentanyl test strips are seen at the Brockton Neighborhood Health Center in Massachusetts.

John Tlumacki/The Boston Globe via Getty Images


Trends in what health officials call “primary prevention” have also improved in recent years — meaning fewer people using the drugs to begin with. As an example, Arwady cited CDC surveys showing a clear decline in high school students reporting that they have tried illegal drugs. 

The CDC and health departments have also gotten faster at gathering and analyzing data to respond to surges in overdoses, Arwady said, often caused by new so-called “adulterants” that are mixed in. Health authorities study this by testing blood and drug samples taken in the wake of surges, in search of potential emerging drug threats.

Agency researchers are now looking closer at what could be behind gaps in communities that are still not seeing slowdowns, Arwady said.

“Unfortunately, for the most affected groups, namely Native Americans and Black American men, the death rates are not decreasing and are at the highest recorded levels,” said Volkow.

Why are drug overdose deaths declining?

In the months since CDC data first began showing real signs of a nationwide change to the deadly record wave of opioid overdose deaths, experts have floated a number of theories to explain what caused the change.

“We had been seeing the numbers go down, on the national aggregate level, since last April, and we were skeptical and kind of holding our tongues. Then we started hearing from a lot of folks on the ground, frontline providers,'” said Nabarun Dasgupta, a senior scientist at the University of North Carolina Chapel Hill who studies opioid overdose deaths.

Dasgupta led an analysis in September by the university’s Opioid Data Lab illustrating the nationwide scope of the downturn and probing a number of theories that might explain it.

Some explanations they dismissed as unlikely, like stepped-up law enforcement operations. Other ideas they judged as plausible, but complicated to prove, like a so-called “depletion of susceptibles” — essentially the epidemic burning itself out, as users either found ways to survive the influx of fentanyl or died — or the wider availability of naloxone.

Dasgupta said they received a flood of interest since their initial post proposing more theories, like new scanners that were deployed on the U.S.-Mexico border.

There are likely a number of factors all playing a role in the shift, Dasgupta says. But he said early data from research they are wrapping up now supports one leading explanation: a shift in the illegal drug supply.

“Our hypothesis is that something has changed in the drug supply. This kind of pronounced shift, something that happens suddenly, if numbers had suddenly shot up, we would definitely be pointing to a change in the drug supply to explain it,” said Dasgupta. 

Amid its downsides, xylazine‘s rise might have led to less injection drug use, they speculate. Its longer high could also be reducing the number of times people use fentanyl each day.

“We’re not in our offices celebrating. We’re still losing too many people that we love. So I just want it to be very clear that with like a hundred thousand people still dying, that’s obscenely high,” he said.



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