Steve Eisman: What If OpenAI Actually Fails? Steve Eisman has spent most of the years since the financial crisis being asked, in his words, to predict the end of the world. In his latest weekly wrap – recorded Thursday night as the 10-year brushed 4.8%, he says he’s still not there on AI, but if he were – he lays out exactly how it would happen. Eisman is not predicting that OpenAI fails – but it is the weak link in a chain […]

US Officials Threaten Retaliation Against UK Over Israeli Settlements Sanctions Via Middle East Eye US officials have attacked the UK over its new trade sanctions on illegal Israeli settlements, amid speculation that Washington could publicly rebuke the British government. On Tuesday morning, US Ambassador to Israel Mike Huckabee suggested the Trump administration could retaliate against Britain over its new trade sanctions […]

Iceland Summons US Ambassador After Trump Shares American Flag Post Authored by Rachel Roberts via The Epoch Times, Iceland summoned the U.S. ambassador on Monday after U.S. President Donald Trump posted an image on Truth Social showing the north Atlantic island and other countries covered by the American flag, according to local media RUV. Trump’s Labor Day post depicted the United States, Canada, Greenland, Iceland, Mexico, the […]

Who’s Winning China’s Sportswear Battle? UBS Say It’s Not Nike Greater China accounts for about 13% of Nike’s revenue and 15% of Adidas’, making the world’s second-largest economy a major competitive battleground for both clothing brands.  A new UBS note highlights a widening divergence, with Adidas gaining market share as Nike’s turnaround struggles to gain solid traction. UBS retail analyst Jay Sole wrote Monday that Adidas […]

US Sanctions Dozens Of Iranian Airlines As Tehran-Favored Mahan Air Defiant, Expands Flights As part of the latest in the Trump-Bessent “asphyxiation of this regime” approach to Iran after six months of military action failed to accomplish most White House aims, the Trump administration on Tuesday announced it is sanctioning all Iranian airlines in a massive aviation crackdown. The Treasury statement listed 27 Iranian air […]

OpenAI’s Claims Of Solving Million-Dollar Math Problem Marred By Allegations From Academic Authored by Jacob Burg via The Epoch Times, OpenAI announced on Sept. 8 that one of its internal artificial intelligence (AI) models had found the solution to a generations-long mathematical problem that deals with the natural mechanics of fluids like water and air. The Navier-Stokes equations govern how humans understand weather, ocean […]

“I Am The House Now”: Bessent Goes Full Judge Dredd On Yen Bears US Treasury Secretary went full judge, jury, and executioner on speculative yen shorts overnight with probably the most direct explicit jawboning we have seen in years… “I am the house now, so when we intervene with the Japanese yen, I have pretty good insight into what the Japanese, what the Bank of Japan is going to do, what Japanese policymakers are going to […]

Futures Slide As Brent Tops $100, 10Y Yields Rise Above 4.81% Ahead Of Expanded Treasury Buyback US equity futures are lower as oil continues its ascent, pushing Brent above $100 for the first time since July 24 and pushing 10Y yields to 4.81%. As of 8:15am, S&P futures are trading at session lows, down 0.5% and after erasing early gains, echoing a rally in Asian technology shares that lost momentum as the session progressed. […]

Apple’s Foldable iPhone Moment Arrives: New CEO Ternus Faces First Big Wall Street Test Apple is expected to unveil its long-awaited foldable handset, rumored to be called the “iPhone Ultra,” at today’s big product event, scheduled for 1 p.m. ET and led by new CEO John Ternus. “Watching Apple’s event is later today… huge index weight, first major event under John Ternus, and potentially the first foldable iPhone. If the […]

There’s More Juice Left In The Trade For Higher Real Yields Authored by Simon White, Bloomberg macro strategist, TIPS continue to mean revert and risk overshooting to the downside, leading to a continuation in rising real yields. Real yields in the US have had a remarkably good run, with 10-year reals bottoming at about 1.72% at the end of March and rising to near 20-year highs at 2.43% currently. That’s even more remarkable […]

Bitter Harry and Meghan Fire Off Blunt Statement After King Charles Blocks Royal Return King Charles delivered a humiliating public slapdown to Prince Harry and Meghan Markle yesterday after the couple’s surprise return to Britain, making it crystal clear they remain firmly out of the Royal Family. Buckingham Palace issued a stinging letter on Monday spelling out that the Duke and Duchess of Sussex have no official role, no […]

Brent Tops $100 As Gulf Conflict Escalates; UBS Warns US-Iran “Off-Ramp Remains Elusive” Brent crude futures topped $100 a barrel for the first time since July as US strikes on Iranian oil tankers and renewed attacks on Saudi energy infrastructure and a US base in Jordan suggested to UBS energy specialist Dominic Ellis that a “US-Iran off-ramp remains elusive.” Ellis adds more color on the overnight Gulf developments and response […]

IRGC Says ‘Smart Submarine’ Operated By US Seized In Hormuz, Releases Images Iran’s Islamic Revolutionary Guard Corps (IRGC) navy announced Tuesday it had captured an unmanned US submersible at the entrance of the Strait of Hormuz, a claim which corresponding photographs appear to back. The US side has yet to confirm the capture of the advanced naval drone, but some reports suggest it was “lost” after failing to operate properly. […]

German Industrial Orders Up: Massive Boost From Arms Spending Submitted by Thomas Kolbe Was this the turning point of the summer, a kind of summer-sun Merz-turnaround? Latest figures from the Federal Statistical Office show a significant jump in industrial orders in Germany: The order volume of companies across all sectors rose by 2.5 percent in July compared with the previous month – the third consecutive increase. These are […]

France’s Champagne Output Set To Crash 48% As Harvest Crisis, Sliding Chinese Demand Batter Vineyards A perfect storm of sliding demand, shrinking vineyard acreage, and weather-damaged yields has sent France’s Champagne output forecast for this year plunging. Bloomberg cites new data from the Agriculture Ministry showing that Champagne output is projected to plunge 48% from 2025 to 1.34 million hectoliters. The estimate is based […]

Green Steel: ArcelorMittal Finally Pulls The Plug Submitted by Thomas Kolbe In the end, economic reality prevails. Green steel has no future in Germany, regardless of how much funding may continue to flow through the channels of the green subsidy machine: At Germany’s overregulated, energy-policy-driven and increasingly sidelined industrial location, industrial production is becoming less and less profitable. That ArcelorMittal, […]

China’s Oil Scramble Sends African, Canadian, Latin American Crude Prices Soaring China, the world’s largest oil importer, is bidding up crude prices across Africa, Canada, and Latin American markets as disruptions in the Hormuz chokepoint and limited Iranian supplies intensify competition for alternatives. The scramble is squeezing smaller Chinese refineries that once relied on heavily discounted Iranian barrels, according to a […]

Massive Escalation: Iran Sends Large Ballistic Missile Salvo On Jordan Bases, After US Strikes Iranian Oil Tankers Summary US Strikes Iran: US forces reportedly hit Iranian oil tankers near Kharg Island and Jask. Iran Targets US Ships & Jordan: Iran reportedly launched another attack on US naval assets, though no American ships were hit, say US officials. Ballistic missiles raining down on Jordan overnight.  Oil Near […]

The Future Of Volkswagen? Submitted by Thomas Kolbe On Thursday evening, Volkswagen’s Supervisory Board unanimously approved the company’s “Future Plan 2030.” The decision had originally been scheduled for Friday. By moving faster, Volkswagen is not only seeking to underline that the situation is genuinely serious, but also that it has recognized the danger and is now taking control of the situation again. Symbolism is […]

Europe Heads Toward Winter With Too Little NatGas And Skyrocketing Prices European natural gas prices are trading near their highest level in more than three years as the race to replenish storage puts a bid under prices, while ongoing disruptions through the Strait of Hormuz intensify competition for scarce LNG cargoes ahead of winter. On Tuesday morning, European natural gas benchmark futures edged up nearly 3% to trade around […]

Intense SoCal Heatwave Sparks Cooling Demand Surge, Testing Grid Reliability The National Weather Service has issued heat advisories across California’s Central Valley and coastal areas, including the Bay Area and Los Angeles, with more severe extreme heat warnings in parts of Southern California. Cooling demand is expected to soar over the next several days, putting pressure on the power grid, particularly in the evening as solar […]

NIH Ends Biodefense Focus, Signs Pact With Department Of War Authored by Paul D. Thacker via The DisInformation Chronicle, Senior officials inside the Department of Health and Human Services (HHS) were baffled late last week when Congresswoman Rosa DeLauro issued a statement that Pentagon officials are trying to “raid” NIH funds to cover defense shortfalls. “The administration must provide Congress with a full accounting of how […]

Lindsay Clancy Supporters Threaten The Father Of The Children She Murdered Patrick Clancy, the father of three children killed by his former wife, Lindsay Clancy, inside the family’s Duxbury, Massachusetts, home in January 2023, is now the target of an online harassment campaign built on the false claim that he was involved in their deaths. The claim has no foundation. Lindsay Clancy confessed. She never disputed killing her […]

Most US Workers Fear Obsolescence In AI Era, Experts Say Adaptation Goes Beyond Tech Authored by Mary Prenon via The Epoch Times, Just as “The Obsolete Man,” which aired in 1961, depicted a future society in which technology had rendered certain professions obsolete, a recent survey showed that, as AI reshapes the workplace, most U.S. workers fear becoming obsolete in the future workforce and believe developing new skills is […]

China’s “Quasi-Monopolistic” Grip On Critical Materials Ignites Western Supply Race: First To Deliver Wins Big The global push toward electrification carries several risks, including replacing dependence on foreign oil and natural gas with reliance on Chinese technology and critical materials, as access to cheap electricity dictates investment flows and where AI and industrial bases thrive. Christian Keller, Barclays’ global head […]