The Weekly Roundup

A bookstore is one of the only pieces of physical evidence we have that people are still thinking.
- Jerry Seinfeld

Reigniting the American Dream
Is Jamie Dimon preparing for a presidential run?

Iran keeps murdering dissidents
See my essay this Sunday.

The China shock goes global
They built too much production capacity.

New Jersey just removed 6,600 noncitizens from their voting rolls. How many more noncitizens might be voting in elections these days?

Our negotiator-in-chief approved a nuclear agreement with Saudi Arabia. But it is contingent upon Saudi Arabia joining the Abraham Accords and recognizing Israel’s sovereignty.

It’s funny how almost everyone will tell you what you want to hear. Your ideas are great! Your cookies are great! Your outfit is great! Your house is wonderful! What might be the consequence if all we get is that kind of positive affirmation, which is really just nice manners?

Why is it that we often elect leaders who are mostly just great talkers? Does one have to be a great talker to be a great leader? Are all great talkers great leaders?

A reader sent me this comment after seeing the photo of Jesus in this Wednesday’s Midweek Mindcation:

Funny about your dog. One of my “A.I. insights” is that pets will become something of a canary in the coal mine for the future of humanity. This past Christmas one of the seemingly most popular items advertised on YouTube was a robotic dog that emulated all the cute facial expressions you’d expect from the genuine article and could wag its tail with the best of them. As real dogs die off, how many of them will be replaced by indistinguishable clones that provide unconditional affection without the need to be let out at 3:00 a.m., or kenneled when you’re off on a European vacation for several weeks, and who will still wag their tails at full speed when you arrive home each day?

The first data point is in, and your choice augurs well for the future of pets, but as robotic versions become increasingly life-like, I can’t help but believe that the average / typical American twenty years in the future will find it odd that we would share our world with creatures that require us to “clean up” after them.

The Justice Department is pulling back on prosecuting corporate crime. This is ridiculous. In my book, the well-educated, white-collar leaders and investors who break the law should receive extra harsh sentences. They should know better, as they are role models for the broader public.

Every day is a holiday in New Orleans. That’s why every morning requires strong coffee and a big breakfast.

Economy

Jobless claims drop to lowest level since 1969
Another billionaire to share his fortune
AI is fueling an entrepreneurial boom
Inflation is about to go lower, statistically
IMF update on global economic growth

The Lone Star

Corpus Christi sets port activity record
Texas dominates energy infrastructure spending
BlackRock backs $12B Texas data center financing

Finance

Private equity zombie funds are growing
America’s best 401(k)s
Giant deals are skewing M&A activity
Private equity is gaming the IPO market
Independent sponsors are outperforming

Technology

OpenAI model goes rogue
China’s AI has the US scared
Google AI threatens publishers’ sustainability
Google is designing their own AI chip
Anthropic wants AI regulation to prevent competition
AI is changing, not destroying, entry-level jobs

Energy

Oil back at $100 a barrel
New drilling method could unleash geothermal
EU backs off its methane law
Riding the fusion money train

Politics & Policy

Forced labor, Trump's new tariff strategy
Trump tries to get generic drugs made here
Trump puts Canada on the defensive
Darline Graham will run for brother Lindsey’s Senate seat
What it will take for Fetterman to leave Democrats

Culture

LA’s homeless population grows…again
Gen Z shies away from alcohol
The teenage explosion in track and field
Boomers are not downsizing

Europe

France bans social media and cell phones in schools
UK’s new PM thinks big government is the answer
Germany thinks the unthinkable: Sunday shopping

Asia

India’s youth not happy with Modi
China tries to rescue its stock market
South Korea’s economy keeps growing
Japan’s economy is finally out of the dog house

Americas

US sanctions Mexican cartel leader
US sanctions Cuban investor
Nicaraguan leader wants to abolish elections
The Venezuela opportunity just hit a wall

Middle East

Trump is planning “massive” Iran attack
US to use Iran’s frozen assets to pay for ship damages
Iran rejects ceasefire offered by Iraqis
Iraq’s new leader woos Trump
US companies sign $60B in deals with Iraq
The Houthis are back to their “mischief”
Iran’s nuclear centrifuges have been moved

Ukraine

Ukrainians not happy with defense minister ouster
Ukraine hits Russia’s “Amazon”

No one’s really that great. You know who’s great? The people that just put tremendous amount of hours into it. It’s a game of tonnage.
- Jerry Seinfeld