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Despite the efforts of the federal government, containment has failed and the New World screwworm is here.

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JPMorgan: "AI Bills Are Out Of Control"

"Investment analysts, particularly at HFs, are using a ton of AI. I’ve run into numerous analysts whose personal token budgets reach tens of thousands of dollars with some even exceeding $100K. If you’re not using AI in your investment process today, you are falling behind."


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This Still Isn't Panic

Fear is spreading across macro, tech, and emerging markets. The uncomfortable part is that this still feels like orderly de-risking rather than outright panic.

The Potemkin Ballot

The history of elections suggests a Potemkin ballot: a public ritual of choice that frequently conceals prearranged outcomes driven by entrenched interests...