AI and Education - Differing Perspectives

Are graduates prepared for the AI era? | FT
https://youtu.be/EsdqCEuoI8M
 
A Society of Cheats
https://www.theatlantic.com/ideas/2026/08/ai-use-college-cheat/688451/
Students’ use of AI is teaching them to cut corners, disdain rules, and believe that integrity is for suckers and wimps. 

Climate Shocks and the Global Economy

The Summer That Scorched French Grapes, English Gardens—and Europe’s Economy
https://www.wsj.com/world/europe/the-summer-that-scorched-french-grapes-english-gardensand-europes-economy-a7b33771
Record heat withered crops, strained businesses and upended everyday life. The changes happened faster than anyone expected. 

The Strongest El Niño in a Generation Is Wreaking Havoc on Global Economy

https://www.wsj.com/economy/global/the-strongest-el-nino-in-a-generation-is-wreaking-havoc-on-global-economy-b6fece16
The weather phenomenon is already roiling industries, from shipping to copper to fish feed.

Mearsheimer on the Iran War

John Mearsheimer analyzes the current state of the Iran War and explains why the conflict is increasingly shaping up to be one of the most disastrous strategic blunders in U.S. history.
https://youtu.be/xPfO5fsxnKg

Related:

How Much Is the Iran War Costing Americans?

https://www.newyorker.com/news/the-financial-page/how-much-is-the-iran-war-costing-americans

A proper calculation must take in more than just the military costs.

Will Canada Join the EU?

What If Canada Joined the E.U.?
https://www.newyorker.com/news/global-notes/what-if-canada-joined-the-eu
The Trump Administration’s trade war with Canada has pushed a fringe idea into mainstream conversation, on both sides of the Atlantic. 

Europe Must Stand with Canada Against Trump
https://www.project-syndicate.org/commentary/eu-must-stand-with-canada-against-trump-by-philippe-legrain-2026-08

Fukuyama's Take

He Warned That the End of History Could Be Rough. Maybe Now People Will Listen.
https://www.nytimes.com/2026/08/31/books/review/francis-fukuyama-in-the-realm-of-the-last-man-end-of-history.html
Francis Fukuyama’s famous take on the post-Cold War world was widely misunderstood. In a new memoir, he tries to set the record straight. 

Dethroning King Dollar

King Donald Is Dethroning the Dollar
https://www.nytimes.com/2026/08/28/opinion/trump-dollar-currency.html
 
Will Financial Innovation Dethrone the Dollar?
https://www.ft.com/content/1481e787-77dc-4d54-8871-8ffb369e5dd3 

Shift in the Momentum Trade?

The Sudden Unraveling of Wall Street’s Momentum Trade
https://www.wsj.com/finance/stocks/the-sudden-unraveling-of-wall-streets-momentum-trade-fe79b4fa
The “self-fulfilling prophecy” of betting on rising winners has suddenly turned into a losing game for investors who banked on its success.
 
Corporate America’s Profits Are Booming—and Signal More Good Times Ahead
https://www.wsj.com/business/earnings/corporate-profit-america-44836dc6
Tariff refunds and the ever-resilient U.S. consumer are fueling the heftiest rise in big-company profits in years. 

State of US Manufacturing

US manufacturing is booming — but it’s no thanks to Trump’s tariffs
https://www.ft.com/content/b625e314-ecf9-4385-a687-7a8f8c1bec23
This is not the nostalgic, protectionism-fueled return that the president promised. 

Kevin Warsh's Hawkish Take

Kevin Warsh’s Take:
https://www.federalreserve.gov/newsevents/speech/warsh20260828a.htm
To try to gauge underlying inflation, I find it instructive to disaggregate the 199 individual components of the PCE price measure. Over the past 12 months, 54 percent of goods and services in the PCE basket showed price increases above 3 percent. This is well below the post-pandemic highs of about 77 percent, but it remains well above the level of 32 percent in the two decades that preceded the pandemic.
Looking over just the past six months, the conclusion is similar: Of goods and services in the PCE basket, 49 percent showed annualized price increases above 3 percent. Again, this is well below the post-pandemic highs but still quite elevated.
The recent rise in overall commodity prices also bears watching. What we need to judge is whether trends indicate upside inflation risks.
It matters, too, whether the inflation readings of the past five-plus years have seeped into expectations. The good news is that measures of inflation expectations in the medium term, by and large, look stable. And inflation compensation measures from the swaps market send a strong and similar message.
Especially in light of recent developments, it is a credit to the Fed as an institution—and consistent with the best of the Fed's traditions—that market prices show confidence that we will deliver price stability. And I can assure you . . . they're right.
The thing about market measures of inflation expectations in economic history is that they tend to look strong and durable until they don't. Those expectations are not pushed around easily, and right now they are well anchored. But they must be closely minded. It's the Fed's job to make sure that inflation expectations do not get unanchored.
There is one signal nobody can miss: The responsibility for 65 months of sustained, elevated inflation sits squarely with the central bank. And that is where it belongs.
Here is my standard: We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed. Otherwise, we have work to do. That's our job . . . our mandate . . . and our charge to keep. 

Financial History - Bucket Shops

What a 125-Year-Old Bull Market Says About Today’s Trading Craze
https://www.wsj.com/finance/investing/what-a-125-year-old-bull-market-says-about-todays-trading-craze-59ee249e
Trading apps have replaced bucket shops, but Wall Street abounds with eerie parallels to 1901. 

AI and the Global Economy

How the AI Investment Craze Is Keeping the Global Economy Afloat
https://www.wsj.com/economy/global/how-the-ai-investment-craze-is-keeping-the-global-economy-afloat-0d62c000
Growth is holding up despite renewed tensions over trade, geopolitics and bond markets, though the AI boom’s outsize role is a growing concern. 

History Lesson: The East India Company

What It Took to Dismantle the Most Powerful Company in the World
https://www.nytimes.com/2026/08/28/opinion/ai-power-lobbying-military-britain-east-india-company.html 

Bond Market Chaos

Think Treasurys Are Having a Rough Summer? It’s Even Uglier Abroad
https://www.wsj.com/economy/global/think-treasurys-are-having-a-rough-summer-its-even-uglier-abroad-7224cf70
Countries with large debt burdens—France, Italy, the U.K., Japan—have come under the heaviest pressure in recent months.
 
The Bond Market Chaos Is Coming for Us All
https://www.nytimes.com/2026/08/28/opinion/ezra-klein-podcast-robin-wigglesworth.html
 
Related:
https://www.nytimes.com/2026/08/27/opinion/bessent-warsh-treasury-fed-bonds-trump.html 

Jonathan Haidt versus Social Media

A $17.1 Billion Vote of Confidence That Jonathan Haidt Was Right
https://www.nytimes.com/2026/08/27/style/meta-jonathan-haidt-anxious-generation.html
In “The Anxious Generation,” he laid out the evils of social media for kids. The landmark Meta settlement seems to agree.  

Related:
https://vivekjayakumar.blogspot.com/2025/01/the-adverse-effects-of-social-media.html
https://vivekjayakumar.blogspot.com/2024/05/tech-and-teen-anxiety.html

China’s Super-Dam

China’s Super-Dam Is Becoming an Upstream Water Bomb
https://www.project-syndicate.org/commentary/china-himalayan-super-dam-dangerous-and-plan-lacks-transparency-by-brahma-chellaney-2026-08
The latest evidence suggests that the Chinese scientific establishment understands the dangers of a planned Himalayan dam—the world's largest—more clearly than its political leadership is willing to acknowledge. With the livelihoods of two billion people at stake, the international community needs to weigh in. 

College Rankings and Choice of College Majors

LinkedIn Top Colleges 2026: The 50 best colleges for long-term career success in the U.S.
https://www.linkedin.com/pulse/linkedin-top-colleges-2026-50-best-long-term-career-success-6gyze
 
Does What You Major in Really Matter?
https://www.townandcountrymag.com/education-college/a71944143/how-to-choose-college-major/
Is computer science out? Will a degree in AI have legs? What about the humanities? Choosing an undergraduate major has never felt more high stakes. 

Mass Migration - The Case of Spain

Quo Vadis, Hispania? Part One
https://www.aei.org/foreign-and-defense-policy/quo-vadis-hispania-part-one/
 
Quo Vadis Hispania? Part Two
https://www.aei.org/foreign-and-defense-policy/quo-vadis-hispania-part-two/
Mass immigration is arguably the most important demographic force at play in Europe today. It is also one of the most salient—and polarizing—issues in contemporary European politics. 

When Following the Rules Leads to Disaster
https://www.theatlantic.com/ideas/2026/08/ceuta-morocco-crisis-immigration/688149/
A supreme-court decision helped cause the Ceuta disaster.
 
Schengen’s Greatest Failure
https://www.theatlantic.com/politics/2026/07/migration-splitting-europe-apart/688137/
The Ceuta crisis is undermining an agreement designed to foster “solidarity.” 

Economics PhD Placements

Expanding Opportunities: New Facts about the Placement of PhD Economists
https://docs.iza.org/dp18868.pdf
Abstract
Is the top of the economics profession becoming more insular? We study the placement of top PhD graduates over the past quarter-century matching them to their advisors. Three trends point towards greater openness: graduates increasingly place outside academia, outside the US, and into a tech sector recruiting broadly across gender, ethnicity, and program prestige. The disaggregated picture is less reassuring: the Emerging South is largely sidelined in the global job market, East Asians face persistent gaps in top academic placement, and elite advisors continue to confer substantial advantages within academia. Tech placement, meanwhile, is dominated by a single employer.

Economists Are Studying the Slowing Job Market – and Feeling It Themselves
https://www.wsj.com/economy/jobs/economists-job-market-hiring-2213807b
Newly minted Ph.Ds. tend to work for universities, government agencies and big white-collar companies. It’s not a great hiring time for any of them.

The Bull Market for Economists Is Over. It’s an Ominous Sign for the Economy.
https://www.nytimes.com/2025/07/28/business/economics-jobs-hiring.html
Earning a Ph.D. in economics has long been a reliable path to affluence and prestige. Not anymore. 

Related:

https://vivekjayakumar.blogspot.com/2024/12/oversupply-of-economics-phds.html 

Rise and Fall of Situational Awareness - A Cautionary Tale

The Connections That Turned a Precocious Teen into the Fallen ‘Nostradamus of AI’
https://www.wsj.com/tech/ai/situational-awareness-leopold-aschenbrenner-ai-fund-4dbb00a4
A 24-year-old investor hailed as a visionary attracted billions—before turning into Wall Street’s latest cautionary tale. 

What Does the Humbling of Leopold Aschenbrenner Mean for the A.I. Bubble? 
https://www.newyorker.com/news/the-financial-page/what-does-the-humbling-of-leopold-aschenbrenner-mean-for-the-ai-bubble
The troubles of a twenty-four-year-old hedge-fund manager highlight some larger questions about the tech-driven stock boom.

Inside the Meltdown of a Wunderkind’s A.I. Hedge Fund

https://www.nytimes.com/2026/07/31/business/situational-awareness-leopold-aschenbrenner.html

Situational Awareness, led by a 24-year-old, exploded onto the artificial intelligence scene — and then nose-dived.

Crude Oil versus Refinery Products

Jeff Currie, Real Macro CEO, on the latest oil price trends and ongoing choke points for fuel products
https://youtu.be/uuvIwco01ks
 
The Price of Diesel, the ‘Workhorse’ of Fuels, Nears a Record High
https://www.nytimes.com/2026/08/26/business/energy-environment/diesel-prices-iran-war-oil.html
The cost of the fuel, used in farm machinery, trucks and other heavy equipment, has surged because of the war in Iran and Ukrainian attacks on Russian refineries.  

A Moronic Trade War

The Real Winner of the Trade War with Canada 
https://www.nytimes.com/2026/08/26/opinion/us-canada-trade-cars-trucks-china.html

The Dumbest Trade War Revisited
https://www.wsj.com/opinion/the-dumbest-trade-war-revisited-57c9fe81
Trump’s decision to escalate a tariff brawl with Canada makes no economic or political sense.

Trump’s trade war with Canada will blow up in his face
https://www.telegraph.co.uk/business/2026/08/25/trumps-trade-war-with-canada-will-blow-up-in-his-face/
The White House will come to regret its latest incursion as much as its assault on Iran. 

The U.S. isn’t negotiating trade with Canada. This is a shakedown
https://www.theglobeandmail.com/opinion/article-the-us-isnt-negotiating-trade-with-canada-this-is-a-shakedown/
Related:
https://www.theglobeandmail.com/opinion/article-in-defying-trump-canada-is-setting-an-example-for-the-world/

Gen Z and the Job Market

How the Job Market Will Shape the Next Generation
https://www.newyorker.com/news/fault-lines/how-the-job-market-will-shape-the-next-generation
Young people are already discontented. It’s not going to get better anytime soon. 

Financial Engineering and the AI Boom

Nvidia Insists It Can Keep Printing Money to Fund the AI Boom
https://www.wsj.com/tech/ai/nvidia-insists-it-can-keep-printing-money-to-fund-the-ai-boom-195e7d5e
The chip maker says its sales “flywheel” is more than robust enough to fund the financial support it gives frontier AI labs and data-center developers.

Nvidia’s $200bn ‘balance sheet-as-a-service’
https://www.ft.com/content/9a6947bf-9d4e-4489-80b9-2178ea657a67
Because ‘vendor finance’ are such ugly words.

Nvidia Has Become a Banker to the AI Boom, Putting It on Dangerous Ground
https://www.wsj.com/tech/ai/nvidia-has-become-a-banker-to-the-ai-boom-putting-it-on-dangerous-ground-94c03545
The financial engineering the company is using to keep revenue growing introduces risks that could eventually cause real pain. 

The AI reckoning is coming, it’s just a matter of timing
https://www.telegraph.co.uk/business/2026/08/24/ai-reckoning-coming-just-matter-of-timing/

Related:

The AI bubble could be worse than the dot-com bust by Vivekanand Jayakumar, The Hill - 06/16/26
https://thehill.com/opinion/finance/5925202-tech-bubble-ai-driven-growth/

Warsh's Track Record

Warsh’s Old Forecasts Show How He Formed His Views on Inflation
https://www.wsj.com/economy/central-banking/warshs-old-forecasts-show-how-he-formed-his-views-on-inflation-60efb1c7
As a Fed governor 15 years ago, Warsh was more worried about inflation than nearly all of his colleagues, and for years it didn’t materialize. 

Prime Numbers

Solved a 2000-Year-old Problem with Raw Intelligence
https://youtu.be/GDHAjzhjf8s
 
PRIMES is in P
https://annals.math.princeton.edu/2004/160-2/p12 

Building Wealth - Stock Market versus the Housing Market

For some young buyers, renting and investing beats buying a home
https://www.reuters.com/markets/on-the-money/some-young-buyers-renting-investing-beats-buying-home-2026-09-10/
Older generations tend to see renting as a waste of money. But for Gen Z, it’s a wealth-building strategy with a bigger payoff.

For Gen Z, Building Wealth Is in the Stock Market, Not the Housing Market
https://www.nytimes.com/2026/08/22/business/gen-z-houses-investing.html
When it comes to building wealth, Gen Z is more focused on investment apps and their retirement accounts than they are in building equity in a home.

Houses Are No Longer the Best Place for Your Money
https://www.fa-mag.com/news/houses-are-no-longer-the-best-place-for-your-money-87759.html
The median house price in Nantucket, Massachusetts, is nearly $4 million. It was just $500,000 in 1995. This sounds like a stunning increase in one of the hottest and least accessible real estate markets in the country. What’s even more stunning is the stock market: If you invested $500,000 in the S&P 500 Index in 1995, you’d have more than $8.2 million today, even more if you reinvested the dividends you earned.
Stocks have clearly been the superior investment, even as housing has moved out of reach for too many Americans. It’s no surprise then that young people are saying they would rather put their money in equities than make a down payment like people their age have done for generations.

Is Buying a Home Still the Way to Wealth? Some Young Americans Aren't Sure
https://www.fa-mag.com/news/is-buying-a-home-still-the-way-to-wealth--some-young-americans-aren-t-sure-87707.html
The fast-rising costs of owning a home have some young Americans questioning whether buying a house is still a good investment.

Priced-out young buyers are looking abroad for their first homes

https://www.reuters.com/markets/on-the-money/priced-out-young-buyers-are-looking-abroad-their-first-homes-2026-07-17/ 

The Odyssey

The Odyssey (Rest is History Podcast)
https://youtu.be/X9BdAIn-WoE 

Daron Acemoglu - Overrated?

The world’s most influential economist is oddly unconvincing
https://www.economist.com/finance-and-economics/2026/08/17/the-worlds-most-influential-economist-is-oddly-unconvincing
Daron Acemoglu is revered. Why? 

Portfolio Allocation: Stocks versus Bonds

Investing in Bonds? Be Careful.
https://www.nytimes.com/2026/08/21/business/investing-bond-market-stocks-funds.html
High-quality bonds are still safer than stocks, but they have been swinging in value, so move cautiously, our columnist says.

Why bond markets are unnerving rich-world politicians
https://www.economist.com/finance-and-economics/2026/08/19/why-bond-markets-are-unnerving-rich-world-politicians

 
How the A.I. Borrowing Binge Helps Drive Up Government Bond Yields
https://www.nytimes.com/2026/08/20/business/bond-yields-tech-ai-debt.html
Analysts said the recent rise in Treasury yields partly reflected investor expectations that A.I.-driven growth could keep interest rates elevated. 
 
It Won't Take Much to Burst the Stock Market Bubble
https://www.fa-mag.com/news/it-won-t-take-much-to-burst-the-stock-market-bubble-88174.html 

Stock indices no longer reflect equity reality
https://www.economist.com/finance-and-economics/2026/08/18/stock-indices-no-longer-reflect-equity-reality

Declining Fertility Rates

The Case for Chilling Out About Birth Rates by Idrees Kahloon
https://www.theatlantic.com/ideas/2026/08/birth-rate-panic-overblown/688320/
Even if the fertility decline doesn’t reverse itself anytime soon, the consequences are unlikely to be apocalyptic. 

Don’t panic about the global fertility crash
https://www.economist.com/leaders/2025/09/11/dont-panic-about-the-global-fertility-crash
A world with fewer people would not be all bad.

AFTER THE SPIKE AND THE MYTH OF DEPOPULATION
https://populationmatters.org/news/2025/08/after-the-spike-and-the-myth-of-depopulation/

Elon Musk and the population apocalypse
https://populationmatters.org/wp-content/uploads/2022/09/PM%20Report%20-%20Elon%20Musk%20and%20the%20population%20apocalypse.pdf

 
Humanity will shrink, far sooner than you think
https://www.economist.com/interactive/briefing/2025/09/11/humanity-will-shrink-far-sooner-than-you-think
Demography sneaks up on you.

A contracting population need not be a catastrophe
https://www.economist.com/briefing/2025/09/11/a-contracting-population-need-not-be-a-catastrophe
The economics of a shrinking world. 

US Public Debt and the Treasury Market

U.S. Debt Just Topped $40 Trillion: How We Got Here
https://www.wsj.com/economy/u-s-debt-just-topped-40-trillion-how-we-got-here-c1c6c9d2
The U.S. has reached a new borrowing milestone in its struggle to get hold of its finances.
 
Why Scott Bessent Is Playing with the Treasury Market
https://www.wsj.com/finance/investing/why-scott-bessent-is-playing-with-the-treasury-market-828256d4
The simple explanation for all this is that the world is going into a new era of capital need, for data centers, the military and reshoring. 

The Treasury Market’s Coveted Status as a Safe Haven Is Fading
https://www.wsj.com/finance/investing/the-treasury-markets-coveted-status-as-a-safe-haven-is-fading-c68fed93
Two new studies find signs investors aren’t as willing to accept low yields because of Treasurys’ safety.

Related:
https://www.nytimes.com/2026/08/19/business/economy/us-debt-40-trillion.html
https://www.nytimes.com/2026/08/19/business/treasury-bonds-yields-economy.html

Era of Higher Interest Rates

Investors Predict a New Era of Higher Yields in Bond Market
https://www.wsj.com/finance/investing/bonds-are-getting-hammered-and-wall-street-says-the-rout-wont-end-anytime-soon-895e0ad8
The rout has driven up borrowing costs for governments, businesses and families across the developed world. 

Bond Sell-Off Sends Borrowing Costs to Highest Level Since 2007
https://www.nytimes.com/2026/08/18/business/oil-prices-bonds.html

Related:

Central Banks Are Stuck in a Rinse-and-Repeat Cycle of Crises
https://www.wsj.com/economy/central-banking/central-banks-are-stuck-in-a-rinse-and-repeat-cycle-of-crises-47da47e9
By becoming market makers of last resort, policymakers are pumping up leverage and risk. 

Will Africa Enjoy a Demographic Dividend?

Africa Can’t Afford to Squander Its Demographic Opportunity
https://www.foreignaffairs.com/africa/africa-cant-afford-squander-its-demographic-opportunity
What the Youngest Continent Stands to Gain from Growing Old. 

Time Value

What’s the Value of an Hour?
https://www.newyorker.com/culture/open-questions/whats-the-value-of-an-hour
If the world seems to waste our time, it’s partly because we view time itself as a resource to be extracted and optimized. 

India's Jobs Crisis

India’s Private University Graduates Are Left Jobless and in Debt
https://www.nytimes.com/2026/08/18/business/india-private-university-debt.html
Families are betting their savings on private universities as a path to a better life. A shortage of well-paying work is turning that wager into frustration.
 
500,000 Applicants, 583 Jobs: The Frantic Scramble for Work in India
https://www.wsj.com/world/india/500-000-applicants-583-jobs-the-frantic-scramble-for-work-in-india-0fefa2b3
Many of the South Asian country’s youth face epic odds in trying to find good jobs, a challenge that is a growing political and economic problem. 

Feeling Poorer

As Inflation Eats Up Pay Gains, Workers Fall Behind
https://www.nytimes.com/2026/08/15/business/inflation-worker-pay.html
When prices spiked in 2021-22, wages failed to keep up for many workers, new research shows. Now the pattern is repeating. 

AI Spending and Profits

Why Big Tech’s AI Spending Is $3 Trillion Higher Than It Seems

https://www.wsj.com/tech/ai/why-big-techs-ai-spending-is-3-trillion-higher-than-it-seems-e1067bb2
Massive spending commitments for data-center leases and chips aren’t shown on companies’ balance sheets.
 
Investment gains at Alphabet and Amazon reveal a new way in which technology
companies’ fortunes are increasingly linked.
https://www.nytimes.com/2026/08/14/business/ai-tech-profits.html 

Big Tech’s circular AI trade grows too big to veil
https://www.reuters.com/commentary/breakingviews/big-techs-circular-ai-trade-grows-too-big-veil-2026-08-03/
Consider the following: How can SpaceX (SPCX.O) and Anthropic, two ​artificial-intelligence lab operators that lose money, account for half of the $280 billion rise in net profit ‌at S&P 500 (.SPX) companies so far this quarter? The answer is largely that their respective backers, Alphabet (GOOGL.O) and Amazon.com (AMZN.O), have booked enormous paper gains as the pair’s valuations ballooned. This accounting oddity, when combined with dwindling cash and deeper corporate entanglements, makes the financial logic hard ​to follow.

Are You a Human?

Are You a Human?
https://www.newyorker.com/magazine/2026/08/17/are-you-a-human
From branding irons to iris scans, the ancient business of proving who you are has never been stranger—or more lucrative.  

An Urban Oasis

The chief minister of Andhra Pradesh has 25,000 workers building his dream capital with waterways, bike lanes and a “Quantum Valley” tech hub.
https://www.nytimes.com/2026/08/13/world/asia/one-mans-quest-to-build-indias-most-livable-city.html 

Hedging Market Risks

The Markets Have Been on a Roll. Is It Time to Hedge Your Bets?
https://www.nytimes.com/2026/08/14/business/stock-market-ai-bonds-rally.html
The S&P 500 is in position for a rare fourth year of consecutive annual gains. Risks are rising, our columnist says, yet Wall Street is doubling down. 

Unwinding the Yen Carry Trade

When Japan buys yen, it unwinds a dangerous trade
https://www.economist.com/finance-and-economics/2026/08/13/when-japan-buys-yen-it-unwinds-a-dangerous-trade
The world’s biggest carry trader begins to exit its position. 

China and the Global Oil Market

China has wrested control of oil markets from OPEC
https://www.economist.com/leaders/2026/08/13/china-has-wrested-control-of-oil-markets-from-opec
When market power comes from buying power, oil importers can do better.
 
China is now the world’s great oil power
https://www.economist.com/finance-and-economics/2026/08/09/china-is-now-the-worlds-great-oil-power
Forget OPEC. The Chinese Communist Party calls the shots. 

Rise of the Surveillance State

Flock Cameras Can Track Every Car in America. Police Love Them. Citizens Don’t.
https://www.nytimes.com/2026/08/10/us/flock-cameras-can-track-every-car-in-america-police-love-them-citizens-dont.html
In Texas, there’s one thing liberals and conservatives agree on: They don’t want cameras trained on their cars. 

Americans Abroad

The Rise of the Unstoppable American Tourist
https://www.wsj.com/economy/the-rise-of-the-unstoppable-american-tourist-485f025b
Once a nation of homebodies, Americans are now zealous international travelers, led by wealthy boomers and restless Gen Zers. 

New Research on 'Buy the Dip' Strategy

Buy The Dip? Not So Fast
https://www.fa-mag.com/news/buy-the-dip--not-so-fast-87890.html
A new paper spans 155 years of U.S. market data to ask a deceptively simple question — and arrives at an uncomfortable answer. 

AI versus Crypto

How the AI Trade Is Stealing Crypto’s Thunder
https://www.wsj.com/finance/currencies/retail-traders-crypto-cash-0d303c92
These are the investors dropping bitcoin and other digital tokens and getting swept up in the mania over AI stocks. 

Robots in Aging Japan

Can Robots Save an Aging Japan?
https://www.nytimes.com/2026/08/06/world/asia/japan-ai-robot-cherry-blossoms.html
In an area where many farmers are in their 70s, robots with names like Monster Wolf and Pochi have been deployed to scare bears and transport cherry blossoms. 

AI-fueled Wealth in South Korea

How AI-fueled wealth is reshaping South Korea
https://www.economist.com/asia/2026/08/04/how-ai-fuelled-wealth-is-reshaping-south-korea
Leaders must decide how to manage a big windfall. 

SaaS Apocalypse

Facing AI ‘Apocalypse,’ Once-Hot Software Companies Race to Reinvent Themselves
https://www.wsj.com/tech/ai/saas-software-as-a-service-apocalypse-ai-b9b6da99
Generative AI is steamrollering the once booming industry known as software-as-a-service. “You have to burn the ships and start from the ground up.” 

Dividend Stocks - Still Attractive?

Retirees Love Dividends, but the Stock Market Surge Is Making Them Think Again
https://www.wsj.com/personal-finance/retirees-love-dividends-but-the-stock-market-surge-is-making-them-think-again-0e448ff6
With the S&P 500 dividend yield near generational lows, chasing income in the stock market is getting tougher. 

Fewer Chinese Studying Abroad

Why ever fewer young Chinese study abroad
https://www.economist.com/china/2026/08/06/why-ever-fewer-young-chinese-study-abroad
Those who do are more likely to return home afterwards. 

‘Y’all Street’ versus Wall Street

Why Texas is betting ‘Y’all Street’ can take on Wall Street
https://www.npr.org/2026/08/04/nx-s1-5697067/texas-banking-goldman-sachs-wall-street
Dallas’ financial industry is growing amid a larger Texas business boom. But can it really steal New York’s crown? 

Tech Competition - China versus US

The Future, Made in China
https://www.newyorker.com/magazine/2026/08/10/the-future-made-in-china
Beijing is competing with the U.S. for tech supremacy. Who wins will have huge political implications. 

China’s A.I. Is Surging Across Africa. That Should Worry Silicon Valley.
https://www.nytimes.com/2026/08/05/technology/ai-china-africa.html

GDP as a Measure of Prosperity

Stop assuming GDP is an indicator of prosperity
https://www.ft.com/content/285bf286-07c3-49b1-9b6d-7df9664e73c0
Billboard-worthy rates of economic growth mask high levels of wealth and income inequality. 

GDP Is a Flawed Measure of Prosperity. Alternatives Are on the Way.
https://www.nytimes.com/2026/05/26/business/economy/gdp-united-nations-prosperity-measures.html
The United Nations has a new plan for weighing economic gains alongside health and environmental progress. But consensus is elusive.

Tokenomics

What Are Companies Getting for All That A.I. Spending?
https://www.nytimes.com/2026/08/03/business/economy/ai-spending-tokenomics.html
A new field of “tokenomics” has emerged to measure the return on all the money companies are pouring into artificial intelligence. 

Treasury's Yen Intervention

The Real Reason Behind Trump’s Yen Intervention
https://www.nytimes.com/2026/08/06/opinion/treasury-yen-trump-currency-economy.html

Why Bessent Is Leaning on the Fed to Help Prop Up Japan’s Currency
https://www.wsj.com/economy/central-banking/why-bessent-is-leaning-on-the-fed-to-help-prop-up-japans-currency-85794909
The Treasury secretary wants the central bank to help by raising its $60 billion borrowing limit on an obscure lending program.
 
Scott Bessent’s Yen Trade Has Unintended Consequences for the Markets
https://www.wsj.com/economy/central-banking/scott-bessents-yen-trade-has-unintended-consequences-for-the-markets-5297044b
The way it’s being done should make us worry that the Federal Reserve is being roped into easing monetary conditions.

A Currency Trader at Heart, Bessent Bets on Japan’s Yen
https://www.nytimes.com/2026/08/04/business/economy/bessent-yen-currency-support.html
Coordinated intervention allowed Japan to support its currency without selling off its U.S. debt holdings. 
 
Yen Intervention Is Bessent's Latest Band-Aid Fix For Bonds
https://www.fa-mag.com/news/yen-intervention-is-bessent-s-latest-band-aid-fix-for-bonds-87980.html 

AI and the Developing World

The Philippines’ big offshoring industry is growing despite AI
https://www.economist.com/asia/2026/08/06/the-philippines-big-offshoring-industry-is-growing-despite-ai
How long will that last?
 
India’s IT sector is surviving artificial intelligence
https://www.economist.com/finance-and-economics/2026/08/06/indias-it-sector-is-surviving-artificial-intelligence
Though the technology is making life still harder for many graduates.

Where A.I. Is Creating Jobs for Humans, for a While
https://www.nytimes.com/2026/08/20/world/asia/ai-jobs-data-annotation-india-karur.html
In the fast-growing field of data annotation, people in a small town in south India are training A.I. to better perform human labor.

Developing countries have ‘less to fear’ from AI than rich nations
https://www.ft.com/content/33c20c4e-6a25-42da-9f1e-6664c8388957
“As a rule, developing economies today have more to gain — and less to fear — from AI than richer ones ... less than a tenth of their jobs are susceptible to AI automation, compared with more than a third in high-income economies,” said Indermit Gill, the bank’s chief economist. 

World Development Report 2026: THE PROMISE OF ARTIFICIAL INTELLIGENCE

https://openknowledge.worldbank.org/bitstreams/4df724a5-2e0d-4e66-bcb8-1d3bf4e22390/download

Equity Bubbles

The 4 Bits of Jargon That Will Help You Spot a Market Swoon
https://www.nytimes.com/2026/08/06/opinion/ai-market-bubble-crash.html

Dalio On AI Bubble Nearing 1929, 2000 Levels: ‘Wealth Is not the Same as Money'
https://www.fa-mag.com/news/dalio-on-ai-bubble-nearing-1929--2000-levels---wealth-is-not-the-same-as-money-87991.html
Acadian Asset Management’s Owen Lamont has framed the clearest test of whether markets are truly in bubble territory around four conditions he calls the “Four Horsemen of the Bubble Apocalypse“: extreme overvaluation, widespread “bubble beliefs” (investors who admit prices are too high but expect them to rise anyway), a surge in equity issuance, and a flood of new market participants. Dalio’s comments map almost precisely onto the third horseman.
“There’s almost nothing that’s easier to produce than stock,” he said, describing how a company can raise $50 million, get valued at a billion, and mint a paper billionaire without a billion dollars ever changing hands. He’s identified surging stock issuance as one of the two primary forces that “prick” a bubble, alongside rising interest rates.

America Is Great at Creating Stock Market Bubbles—and Shrugging Them Off
https://www.wsj.com/finance/stocks/stock-market-bubbles-recovery-029d21d0
One day the bust will be the big one. But for now the pullback in AI-related stocks has been almost completely offset by gains elsewhere.
 
Big Tech Earnings Are Sending Valuations in Wildly Different Directions
https://www.wsj.com/finance/stocks/tech-company-earnings-stock-market-5c4179d8
Reports from tech giants drove big gains and losses, while the Fed-fueled bond selloff adds to market pressures. 

The AI bubble could be worse than the dot-com bust by Vivekanand Jayakumar, The Hill - 06/16/26
https://thehill.com/opinion/finance/5925202-tech-bubble-ai-driven-growth/

Boomerang Generation

Moving Back Home After College? All Your Friends Are Doing It.
https://www.nytimes.com/2026/08/02/business/college-graduates-living-at-home.html
More young adults are living with their parents. The development suggests that they face a weak job market, but also that fewer face stigma in returning to the roost.

Moving Back Home Used to Be a Sign of Failure. Now It Shows Financial Savvy.
https://www.wsj.com/lifestyle/relationships/living-with-parents-finances-0c35530c
Nearly half of American adults under 30, pinched by the cost of housing, are living with a parent. It can be an adjustment for both. 

Related:

https://www.newyorker.com/news/fault-lines/the-kids-are-kind-of-all-right

Trust AI?

What If We Can Never Trust A.I.?
https://www.newyorker.com/culture/open-questions/what-if-we-can-never-trust-ai
Like humans, the technology will never be perfect. The question is what imperfections we’re willing to tolerate. 

Investors Get a Dose of Reality

Humbling times for markets
https://www.ft.com/content/e41dadef-c473-48ff-9fa5-30b56d40af34
Investors finally show signs of growing weary of the painfully obvious nonsense.
 
How A.I. Mania Turned This Stock Market Into a ‘Version of Squid Game’
https://www.nytimes.com/2026/07/31/business/korea-stocks-chips-kospi.html
South Korea’s KOSPI index has swung wildly because of both the enthusiasm and anxiety related to investing in the global artificial intelligence boom.  

There’s no escape from the AI whipsaw
https://www.reuters.com/commentary/breakingviews/theres-no-escape-ai-whipsaw-2026-07-31/