Trump Says It's Okay to Put Pensions In Crypto

Summary

WSJ What’s News: "Trump Says It's Okay to Put Pensions In Crypto"
Release Date: August 8, 2025

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1. Israel’s Controversial Plan to Control Gaza City

Approval of Military Operations
At [00:54], Azhar Sukri reports that Israel's Security Cabinet has endorsed Prime Minister Benjamin Netanyahu's plan to seize control of Gaza City. Netanyahu emphasized that the intention is not to maintain a permanent hold but to implement a five-step strategy to conclude the ongoing conflict.

Ground Operations and Hostage Concerns
Feliz Solomon, the Middle East correspondent, elaborates at [01:44] that the Israeli military aims to operate within Gaza City, a highly populated area. Historically, Israel has refrained from ground assaults in such zones to avoid jeopardizing hostages held by Hamas. The plan's approval marks a significant shift, facing opposition from military factions and public dissent within Israel.

Humanitarian Implications
At [02:13], Sukri highlights the widespread rejection of the plan among hostage families and significant segments of the Israeli populace. Hamas has vocally opposed the takeover, appealing for international condemnation. The military intends to distribute humanitarian aid to civilians in non-combat zones, though Solomon questions the feasibility, citing current challenges in effective distribution amid escalating hunger and malnutrition in Gaza ([02:41]).

Ongoing Crisis and International Response
The humanitarian situation remains dire, with aid efforts insufficient despite recent measures by Israel. Sukri notes that WSJ will continue to monitor this developing story on WSJ.com.

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2. U.S. Census Changes and Immigration Policy Shifts

Exclusion of Illegal Immigrants from Census
Azhar Sukri transitions to U.S. domestic policy at [03:48], reporting President Trump's directive to exclude illegal immigrants from the upcoming census. Traditionally, the census includes all residents, influencing the decennial redistricting of congressional and legislative districts.

Implications for Political Representation
By excluding illegal immigrants, predominantly residing in Democratic-leaning states, the census could significantly alter political landscapes. Detailed data sharing with state legislatures is slated for spring 2031 to facilitate redistricting based on the 2030 census results.

Detention Facility Plans
Concurrently, the Trump administration proposes housing immigrant detainees at the Louisiana State Penitentiary in Angola ([04:13]). Proponents argue cost savings compared to constructing new facilities, while critics condemn the plan for potentially placing individuals facing civil violations alongside violent offenders.

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3. Executive Order: Allowing Pensions to Invest in Private Assets, Including Cryptocurrency

Overview of the Executive Order
At [04:25], Sukri outlines President Trump's latest executive orders, notably one permitting Americans to allocate their 401(k) retirement funds into private assets such as private equity, cryptocurrency, and private real estate. This shift represents a significant departure from traditional investment avenues.

Quentin Webb on Investment Risks
Quentin Webb, Deputy Finance Editor, provides a detailed analysis at [05:43]. He cautions that private assets are inherently less liquid than public market investments, making timely sales challenging. Additionally, higher fees and the volatile nature of cryptocurrencies pose substantial risks. Webb notes skepticism within the private equity sector, as institutional investors have limited appetite for increased private investments, potentially leaving retail and less sophisticated investors vulnerable ([05:54]).

Industry Response and Potential Consequences
Webb further explains that the private equity industry's reluctance to embrace crypto could lead to disproportionate impacts on individual investors. With big investors hesitant, the burden shifts to everyday Americans, who may lack the expertise to navigate these complex and risky investment landscapes effectively.

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4. Trump Administration’s stance on Climate Change and Environmental Regulations

Challenging Established Climate Science
At [07:17], Sukri introduces the Trump administration's efforts to undermine long-standing scientific consensus on climate change. The administration commissioned a report by five climate skeptic researchers, aiming to challenge the prevailing views on global warming.

Eric Kneeler on EPA’s Objectives
Eric Kneeler, Journal climate reporter, discusses at [07:56] the Environmental Protection Agency's (EPA) intent to overturn the "endangerment finding," a legal framework established in 2009 that has been pivotal for enforcing climate-related regulations across various industries, including automotive, energy, and oil & gas sectors.

Divergence from Scientific Consensus
Kneeler explains at [08:25] that the current administration bypasses the National Climate Assessment—a comprehensive report mandated by Congress and produced by 14 federal agencies—by selecting skeptics who argue climate change is either exaggerated or influenced by natural factors like solar activity and volcanic emissions. This selective approach seeks to "sow doubt" by "[10:01] selectively choosing facts to fit the argument," thereby undermining established climate science ([10:27]).

Impact on Environmental Regulations
Should the EPA succeed in reversing the endangerment finding, Kneeler warns at [10:36] of significant regulatory rollbacks. This would remove CO₂ regulations from industries, halt carbon capture technologies, and ease restrictions on methane emissions from refineries. The comprehensive deregulation could have profound effects on environmental policies and the fight against climate change.

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5. Evolution of Job Application Processes in the Age of AI

AI’s Role in Modern Job Hunting
At [11:50], Sukri shifts focus to the employment sector, addressing the challenges posed by artificial intelligence in job applications. AI systems now filter resumes and conduct preliminary interviews, often leading to qualified candidates being overlooked by automated processes.

Callum Borches on Rethinking Applications
Journal columnist Callum Borches shares at [12:25] strategies employed by companies to enhance the quality of applications. These include utilizing lesser-known job boards, requiring detailed personal references, and implementing deceptive application portals that demand applicants to find hidden links—the latter resulting in only about 10% of candidates navigating the required steps ([12:49]).

Emphasis on Personalized Approaches
Borches advocates for "old school" methods, such as utilizing classified ads in newspapers, which often provide direct contact information for recruiters. Anita Jenky, Executive Director of the Career Transition Center in Chicago, supports this by highlighting that such methods foster personal connections, increasing the likelihood of securing interviews for six-figure positions. The key takeaway is that personalized, targeted applications outperform mass submissions, which are often managed ineffectively by AI systems ([13:37]).

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Conclusion

Azhar Sukri wraps up the episode by emphasizing the importance of adapting to evolving challenges, whether in geopolitics, investment strategies, environmental policies, or job hunting techniques. The discussions today underscore significant shifts in policy and technology, each carrying profound implications for individuals and industries alike.

Produced by Kate Bullivant and Daniel Bark. Supervising Producer: Sandra Kilhoff.

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For more detailed coverage and updates, visit WSJ.com.

Transcript

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[Azhar Sukri]

Israel's Security Cabinet approves Prime Minister Netanyahu's controversial plan to take over Gaza City. Plus, President Trump orders illegal immigrants to be excluded from the next US Census, and a shake up to 401k investing would allow Americans to put their pensions in private assets such as crypto.

[Quentin Webb]

One obvious concern is that these assets by definition are less liquid than public markets, so it can be hard to sell them in a timely fashion. Of course, crypto is a new and rather untested boom and bust industry.

[Azhar Sukri]

It's Friday, August 8th. I'm Azhar Sukri for the Wall Street Journal. Here is the AM edition of what's news, the top headlines and business stories moving your world today. In a potentially risky and controversial move, Israel's security cabinet has approved a plan for the military to take control of Gaza City. Prime Minister Benjam Netanyahu said yesterday that Israel doesn't plan to hold Gaza permanently, but will enact a five step plan to end the war. As Middle east correspondent Feliz Solomon explains.

[Feliz Solomon]

To start with, Israel's military will take control of Gaza City, which is a very densely populated area. And to this point in the war, the military has so far avoided ground operations in these densely populated areas over fears that it could endanger hostages who are held there. Ultimately, this plan will entail Israel taking control of the entire Gaza Strip. This idea has been floated for a while now and it has already proven controversial. It's had some pushback from within the military itself.

[Azhar Sukri]

The families of hostages, as well as large swathes of the Israeli public reject the plan. In Gaza, Hamas has warned against an Israeli takeover of the enclave, calling on the international community to condemn it. It comes amid widespread pressure on Israel to ease the humanitarian cris in Gaza. Feliz says the Israeli military plans to distribute aid to civilians outside of combat zones, though questions remain.

[Feliz Solomon]

It's unclear how that's actually going to be achieved because so far Israel has had a lot of difficulty getting this done. There is a worsening humanitarian crisis on the ground in Gaza right now, hunger is widespread and malnutrition is rising. Israel has recently taken some steps to further facilitate humanitarian aid, but to date humanitarian agencies say that it simply is not enough.

[Azhar Sukri]

And we will of course be following this developing story throughout the day on WSJ.com Ukrainian President Volodymyr Zelensky has defended his country's right to take part in possible peace talks between Russia and the US in the coming days.

[Eric Kneeler]

Everyone obviously knows for sure that the key decisions in Russia are made by one person and and that this person is afraid of sanctions from the United States of America and that it is right for Ukraine to be a participant in the negotiations. Russia's war is against Ukraine, against our independence as the embodiment of the independence of every European nation.

[Azhar Sukri]

Russian President Vladimir Putin said yesterday he hoped to meet with President Trump possibly in the United Arab Emirates. A White House official later cast doubt on the summit taking place unless the Russian leader also agreed to a meeting with Zelensky. President Trump has ordered the next U.S. census to exclude illegal immigrants. The census is used in a formula to reallocate house seats to reflect population shifts among states, a process done once in a decade. State legislatures would receive detailed census data by spring 2031 to redraw congressional and legislative districts. Until now, immigrants living in the US Illegally are included in the census, according to the Pew Research Center. More of those immigrants live in Democratic leaning states. The next census is scheduled for 2030. Meanwhile, the Trump administration is planning to house immigrant detainees in the notorious Louisiana State Penitentiary at Angola, the largest maximum security facility in the US and once known as the bloodiest prison in the country. Supporters say using the prison could save the cost of building a new facility like Florida's new alligator Alcatraz. However, critics say the arrangement would put people facing allegations of civil violations near those convicted of violent crimes. And following a busy day of executive orders, President Trump has also announced plans to make it easier for everyday Americans to invest their retirement savings. Controversially, it means investing in assets that lie outside of public markets, such as private equity, cryptocurrency and private real estate. And as deputy finance editor Quentin Webb explains, that doesn't come without its risks.

[Quentin Webb]

So one obvious concern is that these assets by definition are less liquid than public markets, so it can be hard to sell them in a timely fashion. Often the fees are much higher than those associated with public market investments. And of course, crypto is a new and rather untested boom and bust industry. And we know that some in the private equity industry weren't keen on crypto being included in the 401k executive order as well, for example. And remember as well that many institutional investors are maxed out on private equity. They're not interested in putting more money in at the moment. So for some people, some skeptics would say, okay, well, it's a bit worrying that the kind of smart money the big investors aren't looking to put more into private equity. And so now the industry is turning to retail investors, to small and less sophisticated investors to tap them instead of coming up.

[Azhar Sukri]

AI might be ruining your chances of finding a job, but there are ways to circumvent the technology. Find out how after the break.

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[Azhar Sukri]

The Trump administration is looking to cast doubt on decades of scientific findings about climate change. As we reported last week, it's asked a group of five climate skeptic researchers to write a report challenging accepted wisdom about global warming. And the administration is using the findings to make a case that environmental regulations should be tossed out. Journal climate reporter Eric Kneeler has been looking into what this move means in the bigger picture, and he joins me now. Eric, explain to us exactly what the Environmental Protection Agency is trying to achieve here.

[Eric Kneeler]

So what's happening here is the current leaders of the Environmental Protection Agency are really looking to overturn a key legal tool that's been used since 2009 to justify climate regulations on a host of industries, from vehicles, from power plants and from the oil and gas industry, all of which emit carbon dioxide and other greenhouse gases that scientists say are warming the planet, and how significant is the.

[Azhar Sukri]

Divergence from the more established thinking about climate change?

[Eric Kneeler]

So in previous years, what's occurred is that the US Government has adopted almost a scientific method at assessing what the effects of climate change are and the causes of it. The National Climate Assessment. There have been five of them since 2000. Congress has mandated this report. This report has been put together by 14 federal agencies. It's taken several years and several layers of review to put together. And it basically gives sort of an overview of the science and what scientists know now, what we know now about climate change, what this administration has done is really an end around the national climate assessment and asked some skeptics of climate change science. Some of them believe that the future warming is being exaggerated. Some of them have written that the scientific climate models are inaccurate and not working. Some of the authors of this report have said that the current climate warming is within the natural variability that we see. And there may be other causes for climate warming, whether it's a brighter sun or volcanoes or other natural sources of carbon dioxide, so forth. So what we've seen here is an end run around sort of the established climate science, but also the government process for using that science to devise regulations on a host of industries.

[Azhar Sukri]

And they're also questioning the process by which these findings are implemented.

[Eric Kneeler]

So what the report has done is taken bits of uncertainty from whether it's climate models or other reports to sort of sow doubt into the established climate science across the globe and in the United States. So again, selectively choosing facts to fit the argument, which is a certainly illegal way to do it. But the scientists that I've talked to saying that they're missing the big picture and they're missing really what's happening on planet Earth.

[Azhar Sukri]

So, Eric, if the recommendations of the report are implemented, how would that affect how polluting industries are regulated? Right.

[Eric Kneeler]

So this report basically backs up the endangerment finding, which is a legal tool. If that endangerment finding is reversed, as the EPA would like, what they can then do is basically eliminate the climate regulations on industries. So, for example, we cars would still be regulated for polluting chemicals such as sulfur dioxide and some of these other things that contribute to smog, but not for CO2, which contributes to climate warming. You also would see the technologies for capturing carbon from power plants and so forth and other industrial facilities. Those would be eliminated. You would see tightening up of things like methane from refineries that turn crude oil into gasoline or natural gas refineries, for example, where right now the rules are really to tighten the leaks and the valves and the pipelines. Those regulations would be eliminated. So it would really have quite a big impact on industries across the board. In the United States Journal climate reporter Eric Kneeler.

[Azhar Sukri]

Thank you so much.

[Eric Kneeler]

You're welcome.

[Azhar Sukri]

And finally, clicking Apply for an online job posting these days can feel a little bit like tossing your resume into a digital abyss. With companies using artificial intelligence to sift through CVs and even interview candidates, many job hunters feel they are being wrongly ruled out by bots. But at the same time, with applicants using AI tools to overly polish their CVs and apply EN masse. Journal columnist Callum Borches says some companies are rethinking online job applications, seeking quality over quantity.

[Callum Borches]

So that can mean posting an open role on some lesser known job board instead of LinkedIn. Or indeed, some companies are going back to very thorough personal references. I even talked to one CEO who made his online application portal a decoy. You actually have to read the job description to find a link to the real application. Only about 10% of people actually follow these directions, which is exactly what the company wants.

[Azhar Sukri]

And Callum says if you're looking for a new role, you might want to start using some old school strategies.

[Callum Borches]

Go to the convenience store, pick up a hard copy newspaper and flip to the classified page. Yes, this is still a thing. Anita Jenky, executive director of the Career Transition center in Chicago, calls classified ads a gold mine because they often include the name and email address of a recruiter or hiring manager. I tried this recently and sure enough I found a bunch of six figure jobs listed with real human contacts. Whether you use a classified ad or something else, a personal touch really is the differentiator. I mean, you can use AI to spray your resume all over the Internet and pray for an offer, but recruiters consistently tell me that you're more likely to have luck with a smaller number of applications that you actually write yourself.

[Azhar Sukri]

Good luck with your job hunt. And that's it for what's news for this Friday morning. Today's show was produced by Kate Bullivant and Daniel Bark. Our supervising producer is Sandra Kilhoff. I'm Azhar Sukri for the Wall Street Journal. We'll be back tonight with a new show. Until then, have a great weekend and thanks for listening.