Government Kills the Spirit

The House on Wednesday passed its version of the massive $1.15 trillion 2027 National Defense Authorization Act (NDAA), which includes Section 2019 (formerly Section 224), a provision to further integrate the US and Israeli militaries, a scheme Israeli Prime Minister Benjamin Netanyahu has described as “my plan.” The NDAA passed largely along party lines in […]

Inflation Expectations Jump To 3 Year High As Financial Pessimism Surges: NY Fed Survey Ahead of tomorrow's jobs report which is expected to show a substantial slowdown from last month's 178K surge, moments ago we got another reminder that the stagflationary iceberg remains front and center ahead of the US, after the NY Fed's latest monthly survey of consumer expectations reported that Inflation expectations at the one-year horizon rose again to 3.64% in April from the previous month’s 3.42%, the highest since September 2023. Inflation expectations were unchanged at 3.15% for...

U.S. Gov't Stake In Intel Is Now Worth ... Intel shares earlier jumped the most on record after the chipmaker delivered stronger-than-expected first-quarter results and issued a second-quarter forecast (read here) that beat Wall Street expectations. Earlier, Intel shares jumped as much as 28%, rocketing to a record high and eclipsing their Dot Com peak, as Wall Street analysts cheered the earnings report as evidence that the chipmaker’s turnaround is gaining traction. Citi analyst Atif Malik raised Intel to “Buy” from “Neutral,” with a $95 12-month price target, reflecting “improving AI-driven...