Trigger for a Market Crash

There May Be More Peril in the U.S. Markets Than Meets the Eye
https://www.nytimes.com/2026/10/23/business/economy-2008-financial-crisis.html
It’s not impossible to spot the characteristics of a brewing financial crisis. We can look to 2008 for clues.

Either AI or public debt could crash markets. But probably not both
https://www.economist.com/leaders/2026/10/21/either-ai-or-public-debt-could-crash-markets-but-probably-not-both
If AI stocks collapse, bond yields will fall.
 
The AI industry’s gigantic debts are making investors nervous
https://www.economist.com/business/2026/10/18/the-ai-industrys-gigantic-debts-are-making-investors-nervous
Who will be left to pick up the bill in the event of a crash? 

The Unpopularity of Tariffs

How Tariffs Became the Most Hated Word in Politics
https://www.wsj.com/economy/trade/how-tariffs-became-the-most-hated-word-in-politics-eeed7932
President Trump’s tariffs collided with public anxiety over the cost of living. Now his trade legacy is at risk. 

Grad School Loans

That Grad School Loan May Cost You. It's About Time
https://www.fa-mag.com/news/that-grad-school-loan-may-cost-you--it-s-about-time-88933.html
Our higher education system is broken. Families pay a fortune for degrees that do not pay off like they used to. However you feel about the future of advanced degrees, they’re certainly a mispriced asset—a mispricing that started in the market for student loans.
The biggest distortions are in graduate degrees, where students have the largest debt burdens. They represent 25% of borrowers, but account for half of all loans. The government has been the dominant lender here, but the Trump administration is scaling back significantly and creating an opening for private players. This will make graduate education more expensive as students are forced to turn to more costly loans, but that may be a healthy development. 

Reconsidering China Shock

New research tries to defuse the “China shock”
https://www.economist.com/finance-and-economics/2026/10/22/new-research-tries-to-defuse-the-china-shock
An almighty fight over an influential finding. 

AI and Higher Education

AI Splits the American University in Two
https://www.wsj.com/opinion/ai-splits-the-american-university-in-two-2d633630
The technology should be severely restricted for undergraduates, but it’s vital for researchers. 

Fixing Social Security

Five Ideas to Start Fixing Social Security’s Finances
https://www.wsj.com/politics/policy/how-to-save-social-security-41bd68e5
How different ways to boost revenue or cut spending could change the retirement program. 

US Economic Outlook

See What 71 Economists Told Us About Where Growth and Yields Are Headed
https://www.wsj.com/finance/see-what-71-economists-told-us-about-where-growth-and-yields-are-headed-8977cb44
Economists surveyed by The Wall Street Journal now see higher bond yields for longer, firmer growth and eventual relief on inflation.