America’s most alarming deficit is a five letter word

If you want to inspire more trust, be more transparent. [Bloomberg]( This is Bloomberg Opinion Today, a parasocial betrayal of Bloomberg Opinion’s opinions. [Sign up here](. Today’s Agenda - You [don’t trust](. Just [a hunch](. - [Dark money]( packs a punch. - Germans are one [sick bunch](. - You really can’t beat [free lunch](. Trust Issues Who do you trust less right now: Dave Grohl or the people in charge of Boar’s Head? One one hand, the “[parasocial betrayal]( of the Foo Fighters lead singer — who [conveniently confessed]( to secretly fathering a child with his mistress just hours before the presidential debate — is pretty gut-wrenching: But in the grand scheme of things, the [baby drama]( of a prolific rock star is small potatoes compared to the [risk of death]( from a foodborne bacterial illness. And the situation at Boar’s Head shows little signs of improvement. Reports say that the deli meat empire found an [“imminent threat”]( at its [Virginia plant]( two years before 2024’s Lethal Liverwurst Listeria Outbreak. Is there any hope for redemption? The line at the Boar’s Head Café at the Atlanta International Airport last week (I had a layover there) inspires some confidence — or ignorance, depending on your perspective: Still, a lot of people aren’t gonna go near Boar’s Head for a long, long time, and that’s their choice. The trust is gone, and in its place is fear. The same story can be told over and over again with all kinds of companies and institutions: [Boeing]( [Mass media]( [The Catholic church](. [Supreme Court justices]( [The state of New Jersey]( Just look at this chart and you’ll see how deeply we doubt our societal mechanisms: “As the US approaches an election that is, in some sense, a referendum on our faith in democracy itself, the question of trust feels increasingly urgent,” Kristen Bellstrom [writes]( “How did Americans lose our faith in the integrity of our most cherished and important institutions? And more urgent still: How can we restore it?” In an attempt to find some answers, Kristen and James Gibney organized [an entire series]( with our writers, aptly called “Republic of Distrust.” First up on the list? Big Government. As of last year, a little more than a fifth of Americans [trusted]( the feds to do what’s right “most of the time” or “just about always.” Why? Well, Donald Trump’s [rogue presidency]( dealt a considerable blow to our trust, [says]( Nia-Malika Henderson. And Tim O’Brien, who [writes]( that Trump “seeks shelter in reality distortion bubbles,” agrees. The [pools of dark money]( that Patricia Lopez [says]( feed our congressional campaigns certainly don’t help: It wasn’t always this way. In 1958, a whopping 73% of Americans had faith in the government. But the highest-trust periods in history, which Stephen Mihm [says]( span the Great Depression through World War II to the early Cold War, aren’t remembered for rainbows and butterflies. Unpopular opinions were silenced. Voters were disenfranchised. Critical thinking was devalued. “If anything, one could argue that the current level of distrust is simply the price tag of living in a highly pluralistic society,” he writes. Our current media landscape — ugly as it may be — is evidence of that. “The rise of the internet and social media has accelerated these trends, further undermining the fragile consensus and trust in the federal government,” he adds. Not all hope is lost: Mary Ellen Klas [says]( CivicLex, [a nonprofit]( based in Lexington, Kentucky — a blue city in a red state — is helping residents understand their city’s inner workings in an effort to shore up public trust. “One of the reasons people don’t have trust in government is because they have a hard time conceptualizing that people who work in government are ordinary people,” the executive director of the organization told Mary Ellen. A key to trust, it seems, is transparency. People value open and honest communication more than anything. I think that applies to most everything in life — from delegates to drummers to delis. Bonus Trust Reading: - Conservatives claim that [ABC TV is biased](. But if anything, the network aided their rise. — A.J. Bauer - Trump’s [health care lies]( at Tuesday night’s debate came from a very cruel place. — Lisa Jarvis - Harris wasn’t perfect [on climate change]( but she was the only one truly addressing it. — Mark Gongloff Telltale Charts Umm, gross: “With staff absences [soaring in Germany]( employers such as Tesla Inc. are reaching for an eye-catching tool to motivate workers to show up: a bonus for taking fewer sick days,” [writes]( Chris Bryant. Although Germany is not the US (Germans get 15 guaranteed paid sick leave days, and we’ve got zero, zilch, zip, nada), Chris says the incentives still make him uncomfortable. “The last thing Germany needs is employees in poor health spreading germs just to earn some extra cash.” And think of the skyrocketing tissue costs! What employer wants that? Although food price increases had little to do with yesterday’s “statistically fishy” CPI report — Jonathan Levin’s [words]( not mine — [inflation]( is still very much in the news in the US. Which means our presidential candidates will continue to take a vested interest in lowering grocery store tabs. But Kathryn Anne Edwards has a better solution that neither candidate has floated: [free lunch](. “As a social policy, free school meals is hard to beat,” she writes. “Kids do better in school, struggling parents benefit from having to spend less money on food, and all households benefit from lower prices.” Further Reading Brexit burned both the UK and the EU, but [their relationship]( can be saved. — Bloomberg’s editorial board Investment banking [analyst hours]( are still pretty atrocious. — Matt Levine With new EU court rulings, Big Tech’s [easy ride]( is coming to an end. — Parmy Olson The Fed is making Hong Kong’s [billionaire landlords]( extra anxious. — Shuli Ren JPMorgan is worth more than Europe’s [top 10 banks]( because EU households do less. — Paul J. Davies Wealthy countries could [cancel debts]( to help poor nations combat climate change. — Mark Gongloff ICYMI North Dakota’s [abortion ban]( got nixed. The [NYPD Commissioner]( is out. The Murdoch [family has a rift](. The Row is a [billion-dollar brand](. Kickers [Sunburns-for-acne]( is idiotic. Campbell wants to [drop the soup](. Brat and it’s [completely different](. You are now [obsessed]( with [Moo Deng](. Notes: Please send baby hippo pics and feedback to Jessica Karl at jkarl9@bloomberg.net. [Sign up here]( and follow us on [Threads]( [TikTok]( [Twitter]( [Instagram]( and [Facebook](. Follow Us Stay updated by saving our new email address Our email address is changing, which means you’ll be receiving this newsletter from noreply@news.bloomberg.com. Here’s how to update your contacts to ensure you continue receiving it: - Gmail: Open an email from Bloomberg, click the three dots in the top right corner, select “Mark as important.” - Outlook: Right-click on Bloomberg’s email address and select “Add to Outlook Contacts.” - Apple Mail: Open the email, click on Bloomberg’s email address, and select “Add to Contacts” or “Add to VIPs.” - Yahoo Mail: Open an email from Bloomberg, hover over the email address, click “Add to Contacts.” Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. [Learn more](. Want to sponsor this newsletter? [Get in touch here](. You received this message because you are subscribed to Bloomberg's Opinion Today newsletter. If a friend forwarded you this message, [sign up here]( to get it in your inbox. [Unsubscribe]( [Bloomberg.com]( [Contact Us]( Bloomberg L.P. 731 Lexington Avenue, New York, NY 10022 [Ads Powered By Liveintent]( [Ad Choices](