Slavery was neither central to America’s founding nor the primary source of the country’s subsequent prosperity. Yet both ideas have... Read More
Artificial intelligence will almost certainly be the most transformational technology in the history of the world. It will profoundly affect... Read More
You own Apple. At least, that is what your brokerage app tells you. If your zero-commission broker collapses tomorrow morning, you cannot... Read More
Nicholas Mutton / A fork in the road The future is already here – it's just not evenly distributed. - William Gibson, author of Neuromancer... Read More
Financial analysts routinely use volatility and risk as interchangeable terms. It is easy to forget that the familiar √T linkage of... Read More
Members of Gen Z won’t just benefit from the genius of artificial intelligence (AI) throughout their careers, they’ll also... Read More
Proponents of California’s proposed Billionaire Tax Act have a story to tell: President Donald Trump and the Washington Republicans cut... Read More
Our beloved highway system is no longer up to its basic function of Seeing the USA in a Chevrolet. Read More
Serial entrepreneur and Unicoin cryptocurrency co-founder Alex Konanykhin launched his latest venture at the Prediction Conference in Las... Read More
Americans haven't noticed. Read More
A pattern of U.S. energy isolationism emerges as Trump pushes drilling, Venezuela exports rise, and hemispheric oil supply nears full... Read More
According to Donald Trump’s top economist, the fact that people are paying more for “everything” is a good thing. Read More
An Upper East Side bar is hedging a free-drinks promotion on a prediction market. The exchange calls it a milestone. The algebra calls it a... Read More
Higher electricity prices and a lack of cheap energy are in the news. Even before the start of the Iran war, consumers over the winter of... Read More
The rise of AI infrastructure has sparked a backlash fueled by local concerns, activists, and geopolitical competitors. But resistance to... Read More
Nah, man. Read More
A time of disruption is a time when expectations can play an outsized role in shaping the economy’s path. Read More
From 15 hours to one minute Read More
After years of talking to hundreds of CEOs, elected officials, social scientists and ordinary Americans, this is our best take on how things... Read More
The S&P 500 was up because tech was up huge but 8 of 11 sectors finished in the red. Read More
Guns and butter spending means US Treasuries are expensive. Read More
A review of The Asset Class by Hettie O'Brien Read More
The cost of doing a PET scan, CT scan and MRI has declined 70%, and as a result, many more of them are being carried out and radiologist pay... Read More
Risk appetite remains firmly intact as optimism surrounding a potential resolution to the war with Iran continues to improve investor... Read More
The chart below shows the weekly ADP employment data, and there is zero evidence of job losses because of AI. Read More

Members of Gen Z won’t just benefit from the genius of artificial intelligence (AI) throughout their careers, they’ll also benefit from a federal government thankfully hamstrung by past spending errors. Lucky Gen Z. Mindless as Social Security and Medicare are, and economically damaging as they were, they’ll spare those entering the working world now from all sorts of new governm... Read More
You own Apple. At least, that is what your brokerage app tells you. If your zero-commission broker collapses tomorrow morning, you cannot simply transfer that fractional position to safety. It is not transferable in kind. It must be liquidated, back to the same balance sheet that is failing. You do not hold a share. You hold a claim. The difference is not semantic. In 2008, Lehman Brothers' client... Read More