Why are we ruled by barbarians?
America’s New Right believes that savagery is the key to victory.
The wire
Live news feed
7,245 headlines collected and scored. Last update 4d ago.
U.S. budget deficit swells to almost $2 trillion for fiscal 2026, up 12% in a single year
The Treasury Department published the U.S. budget deficit for the 2026 fiscal year.
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Bearish
Me and My Agents
Analysis: Everyone expects the Fed to hold rates in October. Kevin Warsh could surprise us all
Investors expect the Fed to pause rate hikes in October, but Kevin Warsh's rejection of traditional communications practices and continued concern about inflation leave the decision uncertain.
Federal Reserve Board announces termination of enforcement actions with Gardner Bancshares, Inc. and Small Business Bank
Worse than Schadenfreude
By now, the world is familiar with the German word ‘Schadenfreude’, the joy at the misfortune of others.
Living with a stink? Technology might help
Smells from rubbish dumps and industrial facilities are being more carefully monitored.
Wholesale prices jumped 6.3% annually in September, biggest gain since 2022
September producer prices were expected to increase 0.6% month over month and 5.5% annually, according to the consensus estimate by Dow Jones.
^DJIBullish
Economists: Hot PPI shows Fed's work is not done
'We see real risks the Fed will deliver another rate hike in two weeks' time,' one Fedwatcher warns
Bullish
U.S. Treasury dismisses IMF debt warning and 'messy' forecasting
The exchange comes as U.S. debt exceeds $40 trillion and 10-year Treasury yields remain above 5%, intensifying scrutiny of the fiscal outlook.
^TNXNeutral
China indicates rare earths will keep flowing to EU, regardless of U.S. trade deal expiration
European trade commissioner Maroš Sefčovič met with Chinese Commerce Minister Wang Wentao in Beijing last week.
AI vs. the railroads
The impact of bubbles on lifetime earnings
If you recently switched careers to join the booming marketplace for AI jobs and profit from the higher salaries or greater upside on offer there, I have bad news for you.
Bullish
As Christmas rush looms, how do China-made toys find their way to the US?
With the festive season on the horizon, we trace toys from factories in China to US shelves.
THE SHRUGFLATION TRIANGLE I wrote about what happens when the two biggest borrowers in the economy seemingly stop caring what money costs: (1) oil, AI, and Treasuries feeding into each other (2) who…
THE SHRUGFLATION TRIANGLE I wrote about what happens when the two biggest borrowers in the economy seemingly stop caring what money costs: (1) oil, AI, and Treasuries feeding into each other (2) who ends up paying for it (people) and (3) why nobody seems to be able to stop it
SEC Small Business Advisory Committee to Discuss IPO Modernization and Regulation Crowdfunding
The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee announced that it will hold a meeting on Tuesday, October 27, 2026, at 10 a.m. to continue discussing IPO modernization and explore potential policy…
Charts! Inflation picked back up in September, on both a headline and a core basis. Prices are up 3.7 percent over the past year. Core prices have risen at an annual rate of 3.4 percent over the…
Charts! Inflation picked back up in September, on both a headline and a core basis. Prices are up 3.7 percent over the past year. Core prices have risen at an annual rate of 3.4 percent over the past three months. #NumbersDay
U.S. consumer prices rose 0.6 percent in September and were up 3.7 percent from a year earlier. “Core” prices, excluding the volatile food and energy categories, were up 0.3 percent m/m and 2.6…
U.S. consumer prices rose 0.6 percent in September and were up 3.7 percent from a year earlier. “Core” prices, excluding the volatile food and energy categories, were up 0.3 percent m/m and 2.6 percent y/y. Data: www.bls.gov/news.release... Full coverage: www.nytimes.com/live/2026/10... #NumbersDay
AI cannot pick stocks
Yesterday, I wrote a bit about the hopes for productivity gains from AI.
Bullish
How much are you willing to pay for bluesky, to enable them to hire the reporters that will save democracy ?
Bluesky raised a lot of money. Why not get them to pay those people and have them report here ?
How long will humans be needed for translation?
AI dominates the translation business, but for high-stakes work, humans are still needed.
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Bearish
Minutes of the Board's discount rate meetings on August 17, September 9, and September 16, 2026
One more media company is so much more important than making healthcare more affordable Costpluswellness.com
Who Got Richer Since 2022?
Last Friday, the Federal Reserve released the results of its 2025 Survey of Consumer Finances (SCF), which takes a detailed snapshot of American households' finances every three years. And the big takeaway from this year's release is clear—older Americans got richer while younger Americans got poorer. From 2022-2025, the median net worth of households 75 and older went up 38%, while the median…
From AI productivity to lower debt?
Sometimes, you come across a brief note that basically says all there is to say about a topic.
A Nobel for New Keynesian macro, at last!
2026 Nobel Prize in Economics awarded to Robert E. Hall and Michael Woodford
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2026 was awarded jointly to Robert E. Hall and Michael Woodford "for microeconomic foundations of macroeconomic stabilisation." Nobel Prize Committee Video…