The Great Disconnect: When Wealth and Productive Ability Diverge

July Rate-Hike Off The Table After Producer Price Inflation Drops Most Since COVID Following yesterday's much cooler than expected, Goldman's Rich Privorotsky notes that today’s PPI print matters more for the core PCE read-through (Fed's favorite inflation indicator), particularly healthcare and financial services. While May's headline PPI print was hot, core was cooler than expected, and June's data release today was expected to show no change in headline producer prices. In fact, like with CPI, headline Producer prices actually saw deflation (-0.3% MoM), equaling the biggest monthly decline since April 2020. The...

Trump Says Strikes To Expand Next Week After Iran Declares 'No Plans' For Talks Summary Trump threatens wider strikes unless Iran returns to talks - says attacks to 'expand' next week. Wednesday saw 5th strait day of US bombardment on chiefly Iranian coastal sites. Iran hits US-Gulf bases and warns on regional oil exports, says it is in 'control' of Hormuz Strait. No evidence de-escalation: Tehran rejects talks and vows more retaliation. Will the U.S. invade Iran before 2027? Yes 17% · No 83%View full market & trade on Polymarket *  *  * Trump: Strikes Will 'Expand' Earlier in...

Are You Ready For The "Rogue AI" Psy-Op? Authored by Kit Knightly via Off-Guardian.org, The AIs are breaking free, that’s the story. It started two weeks ago, when OpenAI reported one of their “agents” had escaped its testing area and got loose on the internet to launch an “unprecedented cyber attack”. This was clearly meant to be scarier than the public response indicated, because a few days later OpenAI CEO Sam Altman was on the Invest like the Best podcast, asking why it didn’t cause more panic: “I’ve been a little surprised that more people don’t...