| This is Bloomberg Opinion Today, a hoax-free, no-foolin', downright humorless compendium of Bloomberg Opinion's opinions. Sign up here. Today's AgendaLearning From Ike, FDR and Plain Old Joe BidenYes, we're still talking about President Joe Biden's ginormous infrastructure plan. It's too ginormous not to! To pitch his proposals, Timothy O'Brien and Nir Kaissar advise Biden to take a page from Dwight D. Eisenhower's successful 1956 campaign to sell the interstate highway system as a national security necessity. Then, the argument was that freeways would make it easier to evacuate cities in the case of a Soviet nuclear attack. Now it's that the U.S. needs to invest in future growth to keep up with China. Noah Smith agrees that meeting the competitive threat from China should be central to Biden's plans for a new New Deal, but he says that won't be easy. On the positive side, he writes, the president and his advisers are working from a much bigger and better economic knowledge base than Franklin Delano Roosevelt and his "brains trust" were in the 1930s, and are also not battling a Great Depression. But turning around the long-run U.S. productivity slowdown is in some ways an even bigger challenge than the ones FDR faced. For Jonathan Bernstein, though, the short-term political signals look quite positive. With infrastructure, Biden is again trying to do something that's very popular with the public and easy for Democrats to unite around, and he has so far shown himself to be very good at the "blocking and tackling" needed to get things accomplished in Washington. It's a Good Time to Rent in NYCThe $68,750 that Erin Lowry and her husband will spend on their new Manhattan apartment over the next two years may sound like a lot. But get this: It's in a dog-friendly building. It has a working fireplace. It has — wait for it — a washing machine. And a dryer. Inside the apartment. As the nation learned two years ago when Representative Alexandria Ocasio-Cortez of New York marveled at the "bougie" garbage disposal in her new Washington apartment, we New York City residents have very low expectations when it comes to home appliances. But Lowry actually does seem to be getting a great deal, especially when compared with the cost of owning the same place. With rents down 12.7% in Manhattan last year, renting in the city is a choice that now makes financial sense even for lots of people who could afford to buy. High Finance Doesn't Matter Like It Used ToThis year has so far seen four market shocks — the hedge-fund-humbling short squeezes around GameStop Corp. and other companies, the sharp rise in long-term interest rates, the deflating of the tech and SPAC bubbles, and the collapse of Archegos Capital Management — that in another era might each have been enough to send the economy reeling. None has, and Conor Sen thinks the reason is that government stimulus and hopes of an end to the pandemic are together creating so much economic momentum that financial markets are less essential to maintaining growth. This momentum may hold up for a while, leading to a more equitable economy and maybe a more resilient financial system. Also less essential these days are big banks, which Tae Kim and Brian Chappatta say have lost a lot of ground over the course of the pandemic to nimbler fintech upstarts. Telltale ChartsWhen billionaire entrepreneur Richard Branson's special purpose acquisition company VG Acquisition Corp. and genetic testing pioneer 23andMe Inc. announced plans in February to merge, the SPAC phenomenon was still in its ascendance. It's been all downhill since then, writes Chris Bryant, with SPACs in a bear market and Branson's 23andMe deal possibly doomed if VG's share price falls below $10 and stays there.  After years as a share-price laggard among the big luxury conglomerates, Cartier, Montblanc and Piaget owner Cie Financiere Richemont SA is looking more and more like a takeover target. Its best match, Andrea Felsted lays out, would be with Gucci and Yves Saint Laurent parent Kering SA.  Further Reading The Supreme Court may not be willing to let Congress end gerrymandering. — Noah Feldman Why it's so hard to sway Myanmar's military junta with sanctions. — Clara Ferreira Marques Can-do Egyptians refloated the Ever Given, but their ingeniousness is seldom given free play. — Timothy Kaldas How an Arab politician became a political kingmaker in Israel. — Zev Chafets A pandemic should not be an excuse to give up on federalism. — Andreas Kluth The filibuster should be fixed, not ditched. — Bloomberg's editorial board ICYMIProminent Black executives are mobilizing on voting rights. How Facebook became a one-stop shop for vaccine conspiracies. These are high times for junk bonds. KickersDon't look down on trailer parks. Meet "The Pandemic's Wrongest Man." How to make an April Fool. Plans to merge Delaware and New Jersey hit a snag. Notes: Please send bougie garbage disposals and complaints to Justin Fox at justinfox@bloomberg.net. Bloomberg Opinion Today will take Good Friday off, then be back Monday in the capable hands of Mark Gongloff. Sign up here and follow us on Twitter and Facebook. | 
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