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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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Apr 15, 2026 / Kyle Anzalone
Israeli Military Chief Approves Plans for Attack on Iran
IDF Chief of Staff Eyal Zamir said that he approved attack plans for Iran and Lebanon. The statement was made in the middle of a two-week ceasefire. On Wednesday, Zamir said he “approved plans for the continuation [of the war] – both in Lebanon and in Iran.” Israel, the US, and Iran are currently in […]
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Mar 11, 2026 / Connor O'Keeffe
Launching a War on Iran Was No Act of Courage
As recent history shows, there are few things more courageous for a president to do than face down the ever-accelerating, wealth-draining, conflict-amplifying warfare state in DC. Trump has decided to go in the opposite direction.
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Mar 21, 2026 / Tyler Durden
The Private Credit Crisis Is Spreading
The Private Credit Crisis Is Spreading
Submitted by QTR's Fringe Finance
The private credit crisis is spreading to another corner of the market that I warned about back in October, when I wrote about 10 parts of the market I’d avoid.
For years I’ve been warning that buy now pay later (“BNPL”) industry was built on a pretty fragile foundation. The quality of the loans was always the obvious problem. The entire business model revolves around extending instant credit with minimal underwriting to consumers making small purchases.
Companies whose primary innovation is allowing consumers to...
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