A Nobel Prize economist argues against extreme hype in both directions. The Real AI Risk While AI doomsday scenarios dwell on the risks posed by superintelligent robot overlords, one Nobel-Prize winning economist fears a more mundane possibility. Bloomberg reports The Real AI Risk is ‘Meh’ Technology That Takes Jobs and Annoys […]
US consumers are increasingly dependent on Medicare, Medicaid, SNAP and Social Security. Personal Current Transfer Receipts Definition Q: What are Personal Current Transfer Receipts? A: The Bureau of Economic Analysis (BEA) explains PCTR consists of income payments to persons for which no current services are performed. It is the sum […]
After doing everything to get rid of fossil fuel producers, Governor Newsom has second thoughts. Climate Focus Shifts in California The Wall Street Journal reports California Wants to Halt Oil Industry Exodus After Years of Climate Focus Gov. Gavin Newsom’s office made its first-ever call to Chevron’s refining chief last week, […]
Sanctions and tariffs have not only united China and Russia, but also the world against dollar dominance. Our Biggest Miscalculation Eurointelligence has an interesting article on Our Biggest Miscalculation. Let’s tune in. The biggest geopolitical error of our decade has been the west’s attempt to isolate Russia and China at the […]
From theory and small-scale tests to reality, will fusion ever scale? US Energy Secretary Chris White says Nuclear Fusion Will Soon Power the World. Don’t worry too much about planet-warming emissions, the US Energy Secretary has told the BBC, because within five years AI will have enabled the harnessing of nuclear […]
A Gallup poll shows the percentage of Americans saying college is “very important” has fallen to 35% Please note The Perceived Importance of College Hits New Low Americans have been placing less importance on the value of a college education over the past 15 years, to the point that about a […]
In a very much expected (by me) ruling, the appeals court rejects Trump’s global tariffs. Trump Supreme Court Appeal Coming It’s not over yet, but the Wall Street Journal reports Appeals Court Rejects Trump’s Global Tariffs. A federal appeals court late Friday struck down the Trump administration’s signature tariffs, finding that […]
National Housing Emergency Coming Up Bloomberg reports Trump Weighs Declaring National Housing Emergency, Bessent Says Treasury Secretary Scott Bessent said the Trump administration may declare a national housing emergency this fall as the White House looks to highlight key issues for midterm campaign voters. “We’re trying to figure out what we […]
The most arrogant administration in history accuses India of arrogance over Russian oil imports. “Modi’s War” The BBC reports Trump adviser calls Ukraine conflict ‘Modi’s war’ as US tariffs on India rise A White House official has described Russia’s ongoing war with Ukraine as Indian Prime Minister Narendra “Modi’s war”, stepping […]
Trump’s 50 percent tariffs on India start today. Oil-Related Tariff Shock Bloomberg reports Trump Slaps India With 50% Tariffs, Upending Ties With Modi President Donald Trump imposed a crushing 50% tariff on Indian goods to punish the country for buying Russian oil, upending a decades-long push by Washington to forge closer […]