Exit Taxes Won't Save Failing States

US PMI Surveys Signal Growth Rebound In Q3, Strongest Among Global Peers, But... Following the mixed/weak Manufacturing PMI survey data earlier in the week, today's Services PMIs were expected to be just as mixed with S&P Global higher and ISM flat. S&P Global Services PMI for August rose from 54.6 to 56.5 (below the preliminary 56.8 but still up bigly) - the highest since Dec 2024 ISM Services PMI for August rose from 54.1 to 55.4 (better than the 54.1 exp) - the highest since Feb 2026 These improvements come as hard data...

US Probes Whether ASML's Advanced Chip Machine Ended Up In China Not long after Shenzhen-based Huawei unveiled what it described as a breakthrough pathway for advanced semiconductor production at the recent IEEE ISCAS conference, the Trump administration raised concerns that one of Dutch chip-equipment giant ASML's extreme ultraviolet lithography, or EUV, machines may have fallen into Chinese hands. Bloomberg reports that Commerce Secretary Howard Lutnick has raised concerns that one of ASML's EUV machines may have reached China despite US-led export controls. ASML has pushed back on Lutnick's suggestion, explaining that none...

When Uncle Sam Turns Venture Capitalist, What Could Go Wrong? Authored by James Varney via RealClearInvestigations, The battery recycler Ascend Elements was riding high in 2023, flush with hundreds of millions of dollars in federal funding. The seed money provided to the Massachusetts company, which launched in 2017, was one of several large bets the Biden administration placed on the green future as it essentially created a venture capital arm at the Department of Energy and other agencies. In the movies, VCs almost always score big through their early investments in future...