Futures Flat As Oil Rebounds After Trump's "Energy Ceasefire" Unravels, Memory Stocks Slide

US Closes Fiscal 2026 With $2 Trillion Budget Deficit, Pays Record $1.4 Trillion In Interest With DOGE disbanded more than a year ago, and tariffs struck down by the Supreme Court, the US is no longer even pretending that there is any hope to normalize spending, or any kind of happy ending to the US debt trajectory.  At 2pm today the US Treasury published the latest, September, monthly budget deficit data, which was also the last month of fiscal 2026, and it will again come as no surprise to anyone that...

Mamdani's Socialist Utopia Collides With Reality As Manhattan Rents Hit Record Socialist NYC Mayor Zohran Mamdani built his political campaign by relentlessly attacking America and, most importantly, portraying capitalism as the root cause of nearly every social problem, from affordability pressures to soaring rents. Voters were sold the idea that his administration could deliver an instant utopian transformation built on free bus rides, government-run grocery stores, and cheap housing. However, like every Marxist before him, Mamdani's vision of utopia is not grounded in economic reality. The dream pitched to millions across the...

US Job Growth Revised Lower By 79,000 In Annual Benchmark Estimate In our preview of today's preliminary benchmark revision of US jobs - published by the BLS 'conveniently' just as Kevin Warsh started to speak - we said that according to Goldman calculations, for the first time in 3 years and just the second time since 2018, the BLS was going to revisedpayrolls modestly higher "based on the nine months of data released since the last benchmarked period, March 2025." Specifically, Goldman's economists expected "a preliminary upward revision on the order of 50-450k which...