Project No Spank Essential Reading List

The Most Splendid Housing Bubbles In America Authored by Wolf Richter via Wolf Street, In 27 of the 33 big and expensive cities we track here, mid-tier home prices in March were down from their respective peaks in prior years, led by Austin (-26%), Oakland (-25%), and New Orleans (-19%). Now also filtering into these mid-tier home prices is the “mansion shortage” in San Francisco, the epicenter of the AI investment bubble. Total employment in the city dropped and the unemployment rate ticked up. But a relatively small number of super-highly paid...

U.S. Navy Deploys Sea Robots To Sweep Hormuz Chokepoint For Mines The US military is deploying unmanned and autonomous surface platforms that can tow an advanced mine-hunting sonar system to detect sea mines that were deployed by Iranian naval forces. This development comes even as Iran closed the Hormuz chokepoint on Saturday morning. By Sunday morning, Iran's chief negotiator said some progress had been made in negotiations with the US, but there is still a long way to go before a deal is reached. Despite the volatility in the Hormuz chokepoint's operational status, somewhat...

The Department of War has raised the counterintelligence threat posed by Israel to its top level. The sources said that Tel Aviv wanted intelligence on Washington’s plans for the war against Iran. The New York Times and NBC News report speaking with multiple sources who said that the Defense Intelligence Agency raised the threat posed by Israel to […]