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Artificial Intelligence, Real Misallocation
Artificial Intelligence, Real Misallocation
Authored by Peter C. Earle, Ph.D,
Artificial intelligence may well be the most important technological development of the coming decade-and that is exactly why the current capital surge around it warrants skepticism. History is littered with transformative innovations that were nonetheless disastrously overbuilt and mispriced in their early phases. Austrian Business Cycle Theory was never a children’s story in which every boom ends with clowns, ashes, and worthless machinery; its real claim is subtler and nastier. When the price of time is falsified-when interest rates are pushed...
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May 29, 2026 / Tyler Durden
Clorox CEO Steps Down For "Health Reasons" After Six-Year Stock Rout
Clorox CEO Steps Down For "Health Reasons" After Six-Year Stock Rout
Clorox shares tumbled on Friday after Chair and CEO Linda Rendle said she will step down for "health reasons," prompting the board to begin a search for her replacement.
"Rendle will also serve in an advisory role for a period following the appointment to drive business performance and a smooth leadership transition," Clorox wrote in a press release.
Rendle wrote in a statement, "Serving as CEO of Clorox for the past six years—and being part of this special company for more...
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Sep 16, 2026 / Tyler Durden
Watch Live: Fed Chair Warsh Explains Why He Hiked Rates Into Stagflation
Watch Live: Fed Chair Warsh Explains Why He Hiked Rates Into Stagflation
The FOMC just (unanimously) hiked rates for the first time since July 2023 despite recent inflation prints slowing...
Additionally, recent macro surprises are clearly signaling stagflation - the central banker's nemesis...
So, a hike for credibility... but Warsh’s biggest challenge will be communicating his outlook without reverting to forward guidance, even as markets seek clarity on whether today’s likely move is one-and-done, or the start of a broader tightening cycle.
With investors forced to extract more signal from his language, the press...
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Apr 5, 2026 / Tyler Durden
The Four Iran War End-Games Revisited, And The Peak Pressure Points
The Four Iran War End-Games Revisited, And The Peak Pressure Points
Submitted By Peter Tchir of Academy Securities
A Yogi Berra Kind of Weekend
There is something special about “home openers.” The baseball season can drag on, but the home opener is such a great reminder that summer is on the way and that the possibility of winning it all remains in your reach. Maybe that is why I have Yogi Berra on my mind.
Or maybe, and far more likely, it is because a lot of recent discussions seem to lend themselves...
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