The Case Against the “Free Bankers”

The Department of War says it needs $200 billion in additional funds for the war against Iran. Pentagon chief Pete Hegseth suggested the number could go higher. According to a senior administration official speaking with The AP, the Department of War submitted the spending request to the White House. Congress will have to pass a supplemental military […]

France's Champagne Output Set To Crash 48% As Harvest Crisis, Sliding Chinese Demand Batter Vineyards A perfect storm of sliding demand, shrinking vineyard acreage, and weather-damaged yields has sent France's Champagne output forecast for this year plunging. Bloomberg cites new data from the Agriculture Ministry showing that Champagne output is projected to plunge 48% from 2025 to 1.34 million hectoliters. The estimate is based on the latest figures through Sept. 1. The ministry also said that nationwide wine production is expected to fall 6% to 34 million hectoliters, putting the harvest...

US Retail Sales Jumped Most In 8 Months In February Bank of America's omniscient analysts forecast a very strong month for Retail Sales in February data (released today)... The actual print was +0.6% MoM (better than the 0.5% consensus, but less than BofA's forecast) comes after a revised higher 0.1% MoM decline in January (and December's nothingburger)... Source: Bloomberg That is the highest MoM rise since June 2025, and sales rose 3.7% YoY... Core Retail Sales (Ex Autos) rose 0.5% MoM (much better than expected) and Ex Autos and Gas also rose more than...