A Big (and Risky) Bet on AI

The AI Build-Out Is Becoming the Biggest Economic Bet in U.S. History
https://www.wsj.com/economy/the-ai-build-out-is-becoming-the-biggest-economic-bet-in-u-s-history-c60716dd
Data-center spending is greater than that for canals, railroads and grid combined—creating jobs and stock-market wealth, while boosting inflation and crowding out housing.
 
We're All AI Investors Now, And That's Risky
https://www.fa-mag.com/news/we-re-all-ai-investors-now--and-that-s-risky-88546.html
Like it or not, we are all betting on AI taking over the economy. In the last 40 years, the U.S. has become a nation of stock investors. On the whole, it has made Americans rich. Now the stock market is soaring on the hopes that AI will make everyone more productive—and if that doesn’t work out, we all may learn the definition of a bad tail risk. 

Time to Buy Bonds?

A Perfect Storm Is Raging in the Bond Market
https://www.wsj.com/finance/investing/a-perfect-storm-is-raging-in-the-bond-market-43d9b44b
The benchmark Treasury yield jumped above 5.1%, posting its biggest one-day rise in more than a year.
 
It’s a Good Time to Buy Bonds
https://www.wsj.com/opinion/its-a-good-time-to-buy-bonds-94e1c93e 

Demise of the Rules-based Order

How to Survive in a World Without Rules
https://foreignpolicy.com/2026/09/09/hal-brands-rules-based-order-great-power-politics-geopolitics/
Hal Brands:
Not so long ago, it seemed that the world was becoming more civilized. The end of the Cold War was supposed to bring the triumph of the rules-based order. Enlightened norms and cooperation, buttressed by a broad-minded superpower, would supplant anarchic patterns of the past. It was an inspiring vision—and, alas, an illusion.
Now, all around the world, rules are in retreat. Aggression and conquest are surging; economic coercion and predation are rampant. Respect for international law and organizations is cratering; arms control is in decline. Great powers are reviving dreams of empire; the United States is tempted to seek narrow national aggrandizement at the cost of world order. 

Meta's Muse

Meta’s New AI Agent Is an Instant Hit—and the Backlash Has Already Begun
https://www.wsj.com/tech/ai/meta-ai-agent-muse-reactions-5bf236af
Amazon blocked the Muse app from shopping on its site, and privacy and security concerns are mounting.
 
Meta’s Muse Comes for Financial Stocks
https://www.wsj.com/finance/investing/metas-muse-comes-for-financial-stocks-17bdf11a
The rapid adoption of the new artificial-intelligence agent threatens to disrupt wealth managers, brokerages and insurers. 

I Gave My Life Over to Meta’s A.I. Agent and Was Blown Away
https://www.nytimes.com/2026/09/22/technology/meta-muse-ai-agent.html

College versus Technical School

‘Skills nobody can take’: Meet a 20-year-old with a 4.5 GPA who skipped college for technical school to land an ‘AI-proof’ career
https://finance.yahoo.com/small-business/articles/skills-nobody-meet-20-old-071200562.html 

India's Southern Tech Capitals

Bloomberg Wall Street Week Reports:
Bangalore: Can India’s IT Capital Survive Its Own Success?
https://youtu.be/dEe4A3O9OmI 
Why India’s Big Tech Companies Are Betting on Hyderabad
https://youtu.be/zDLi0cQKxEU 

American Millionaires

The Wealthiest—and Stealthiest—Class in America
https://www.newyorker.com/magazine/2026/09/21/the-everywhere-millionaire-owen-zidar-and-eric-zwick-book-review
America’s everywhere millionaires built fortunes from hot dogs, car dealerships, medical practices, and convenience stores. Then they learned how to protect them.
 
The Everywhere Millionaire: Who Is Really Rich in America and How They Got There
https://www.everywheremillionaire.com