“The Epitome Of Ludicrousness” By Michael Every of Rabobank “All-You-Can-Eat Shrimp” “My view is that the United States could take all the seafood Greenland could produce, and cut out the middleman, and keep it from China — and you could bring back all-you-can-eat shrimp at Red Lobster.” That’s a recent quote from a Trump official in The New Yorker arguing for the annexation of that territory. As the magazine notes, the […]

“Democratizing AI”: OpenAI, Broadcom Unveil New AI Chip As Sam Altman Pushes For Full Control Of Compute Stack OpenAI and Broadcom unveiled Jalapeño, OpenAI’s first custom AI accelerator, as Sam Altman’s chatbot maker pushes to control more of its data center chip stack and drive greater efficiency to lower inference costs. The new chip is described as an “Intelligence Processor” and was designed from scratch for large language […]

Trump Cancels Housing Bill Signing That Would Ban CBDCs – Demands Action On SAVE Act First President Donald Trump abruptly canceled a planned Capitol Hill signing ceremony for a sweeping bipartisan housing affordability bill Wednesday, saying he would not move forward until Congress passes the SAVE America Act, an elections measure he has elevated as a top legislative priority. In a Truth Social post shortly before the scheduled […]

Trump Admin Backs Big Reactors With $18BN Supply Chain Loans For Ten AP1000s The Department of Energy’s (DOE) Office of Energy Dominance Financing (EDF) issued a conditional commitment for $17.5 billion in American nuclear supply chain loans. The money targets long-lead time components to accelerate deployment of 10 large-scale Westinghouse AP1000 reactors across up to five projects.  Each reactor is rated at ~1.1 GWe. The […]

WTI Holds Losses As Cushing Hits ‘Tank Bottoms’, US Production At Record Highs Oil prices are testing down to pre-war levels this morning as more tankers cross the Strait of Hormuz and signs of progress in US-Iran peace talks eased fears of an immediate supply crunch. Vessels are transiting Hormuz with their satellite signals switched on, indicating growing confidence among shipowners about safe passage of the chokepoint, through […]

Cerebras Plunges To Post-IPO Low On Striking Admission: The US Has A Dire Shortage Of Operating Data Centers Just over two years ago, we first penned our views on “The Next AI Trade”, which looked beyond the hyperscalers and the data centers supporting the AI revolution, and instead focused on the energy and logistical needs that would be so very critical in allowing the US to dominate China in the existential race to first reach […]

CBOE Debuts Prediction Market With S&P 500 Contracts Authored by Zoltan Vardai via CoinTelegraph.com, Market operator Cboe Global Markets has entered the prediction markets business with the launch of Cboe Predicts, a platform debuting with binary contracts tied to the S&P 500. The contracts are now available through Interactive Brokers and are expected to launch at Charles Schwab and other retail brokerage platforms in […]

New Home Sales Unexpectedly Plunged In May As Prices Surged With Case-Shiller reporting existing home price declines in half of America’s largest cities, New Home Sales were expected to rebound from April’s ugly decline. But they didn’t… at all… NAR reports that New Home Sales in May plunged 7.3% MoM (versus the 3.2% MoM rise expected). That print was below the lowest analysts forecast. April’s 6.2% MoM plunge was revised up […]

Hawkish Warsh Hammers Barbarous Relic: Gold Crashes Back Below $4000 As Rate-Hike Odds Rise Gold plunged back below $4,000 an ounce for the first time since November 2025 this morning, as a resurgent dollar and the prospect of higher interest rates bring bullion’s three-year bull market to a halt (now down 30% from its January highs). The precious metal has posted double-digit gains for each of the last three years, more than […]

‘Customers Are Being Gouged’: Trump Tells DOJ To Look Into Gasoline Prices President Trump said on Wednesday that he had instructed the Department of Justice (DOJ) to open an investigation into oil companies over high gasoline prices. In a Truth Social post, Trump said that oil companies have not lowered their prices at the pump despite a recent decline in crude prices following the U.S.–Iran preliminary agreement. “Those […]

Uh-Oh, Silver! Authored by Adam Sharp via DailyReckoning.com, One year ago, silver was trading at around $36 per ounce. Today the price is around $60. Normally, that’d be considered a win. But over those 12 months, we silver bugs have been on a wild ride. Simply incredible price action. From $36 to $119 in about 8 months. And now back down to $66. I believe the silver bull market still has years to run. Maybe even another […]

Heavily Shorted Wendy’s Soars After New CFO, Reddit Traders Pile In To Save Burger Chain Heavily shorted Wendy’s shares jumped as much as 22% in premarket trading on Wednesday, as a management shakeup and a surge of WallStreetBets activity around the struggling fast-food chain appeared to trigger a retail-driven squeeze. The stock surge followed Wendy’s appointment of former Potbelly CFO Steve Cirulis as CFO and chief strategy […]

Brent Falls To Pre-War Levels As Trump Contradicts Tehran On Hormuz Tolls, Nuclear Inspections Brent crude oil prices fell below $75 a barrel late yesterday, marking the first time the global benchmark has traded under that level since the outbreak of the Trump-initiated Iran conflict. The drop in crude prices could provide relief for consumers and businesses by easing pressure on fuel costs and inflation, a desired Washington […]

Futures Rebound From “Chip-Wreck” Ahead Of Critical Micron Earnings US stocks are set for a rebound with equity futures higher as Semis and Tech stage a partial recovery from yesterday’s “Chip-Wreck” as KOSPI retraced about 20% of its losses ahead of earnings from the single-biggest contributor to US outperformance this year: Micron’s third-quarter numbers are an even bigger deal than usual, following Tuesday’s shakeout of an […]

Mamdani-Backed Candidates Win New York House Primaries Authored by Nicholas Zifcak & Jackson Richman via The Epoch Times, All three candidates endorsed by New York City Mayor Zohran Mamdani won their closely-watched House primary races on Tuesday, handing the democratic socialist a victory in his bid to move his party more to the left. Democratic congressional candidate Brad Lander (R) arrives with New York City Mayor Zohran […]

Chip Party Must Go On: SK Hynix To Raise $29 Billion In US Listing About two days after a Chosun media report from South Korea sparked a global sell-off in memory stocks and triggered a 10% crash in the Kospi, a new report states that memory giant SK Hynix is planning a massive $29.4 billion US listing. This move will test investor appetite for another mega AI-linked offering and demonstrate whether markets can absorb another […]

Tanker Owners Having The Best Week Of The Hormuz Crisis As VLCC Rates Soar By Julianne Geiger of OilPrice.com The Strait of Hormuz may be reopening, but don’t tell tanker owners the crisis is over. They’re making too much money. As Middle Eastern producers scramble to move crude that has spent months stranded in the Persian Gulf, tanker rates have exploded higher, turning a slow return to normal into a windfall for shipping […]

Rheinmetall Plunges After Germany Scraps Warship Order Rheinmetall shares plunged as much as 17%, the largest intraday drop in more than a year, after the Financial Times reported that Berlin has scrapped a multi-billion-euro program to build six F126 frigates. The German Ministry of Defense told FT on Wednesday that the decision was due “to significant delays in the project, foreseeable cost increases and the risks that would […]

AI Reshaping US Jobs But Not Yet Triggering Mass Unemployment, Says European Central Bank Authored by Owen Evans via The Epoch Times, Artificial intelligence (AI) has begun shifting American workers away from occupations most vulnerable to automation, but its overall effect on U.S. employment and wages still remains “muted,” according to a European Central Bank study released on Monday. U.S. companies have been investing […]

Starmer’s Resignation ‘Unites Us All’: Russia’s Top Negotiator Celebrates The British establishment has remained deeply adversarial to Russia even as across the pond President Trump has tried to improve bilateral relations with Moscow. The UK was among the first nations to hand Kiev long-range missiles, especially the Storm Shadow (a Franco-British low-observable, long-range air-launched cruise missile) – and so Moscow doesn’t have […]

Here’s What Andy Burnham Means For Crypto In The UK Authored by Aaron Wood via CoinTelegraph.com, Amid waning poll numbers and pressure from inside the Labour Party, Prime Minister Keir Starmer has stepped down.  During Starmer’s tenure, the government introduced a moratorium on cryptocurrency donations to political campaigns, citing concerns that crypto could become a vector for foreign influence in UK elections. Beyond the […]

Trump Insists Iran Caved On Nuclear Inspections, As Tehran Touts US To Unfreeze $12BN; Hormuz Tolls Still Disputed Summary Conflicting Claims Remain: Washington and Tehran continue to dispute whether Iran agreed to extensive IAEA nuclear inspections and the terms of sanctions relief; also, Hormuz tolls remains an issue of contention. $12 Billion Asset Release: Iran says $12 billion in frozen assets will be released initially, with […]

German Swimming Pool Bans Visitors Who Can’t Speak German, Citing Safety Concerns Via Remix News, A public swimming pool in Germany has introduced strict new admission rules barring entry to anyone who cannot speak German, with management insisting the policy is essential to guarantee the safety of guests. The Heidebad natural swimming pool in Halle, Saxony-Anhalt, now requires visitors to demonstrate German language skills […]

Ursula von der Leyen To Visit Armenia Next Week As Pro-EU Aspirations Ramp Up Brussels is eyeing Armenia as the small Caucasus nation has lately made it’s pro-EU aspirations known, given just earlier this month Armenian Prime Minister Nikol Pashinyan’s party won parliamentary elections, in a vote widely seen as signififying its major pro-Western shift. Pashinyan had claimed a “historic victory that will ensure Armenia’s eternity […]

Can Anyone Govern Britain… Or America? Authored by Daniel McCarthy via PJMedia.com, As Britain gets ready for its seventh prime minister in just 10 years, it’s time to ask whether the parliamentary system itself is broken. That might explain not only why landslide election victories don’t translate into stable leadership in Britain but also why America’s Congress is so feckless.  Is representative government an idea whose […]