Archive for the 'Economy' Category
Hundreds of Billions of Dollars Worth of AI Data Center Hardware Sitting in Warehouses… Depreciating…
October 22nd, 2026Via: The Tech Report: More: Jays Two Cents: Related: Where’re All The AI Chips? “The artificial intelligence (AI) boom represents one of the largest speculative frenzies in history.”
“How to Deal with Shipping AI-Written Code You Don’t Understand?”
October 20th, 2026Via: Hacker News: I’m an engineer at Meta and I never felt this uncomfortable doing my job. I’m writing code these days and it all feels like a black box. This new standard of shipping with AI is moving so fast that if we’re going to spend our time checking each line of code, it’s […]
44% of Americans Have Trouble Paying for Basic Necessities, 20% Got Food from a Food Bank or Food Pantry in the Last Year
October 19th, 2026Via: Pew Research: As the 2026 midterms approach, economic issues are top of mind for voters. Many specifically mention prices and affordability as key concerns, according to a Pew Research Center survey conducted this fall. … More than four-in-ten Americans (44%) indicate they have had trouble paying for at least one of these basic necessities […]
Gold Became Top U.S. Export for Several Months
October 17th, 2026This article is from April 2026. Via: Forbes: The value of U.S. gold exports soared to $17.88 billion, the highest monthly total dating back at least two decades and almost certainly ever, according to my analysis of the latest data from the U.S. Census Bureau. Gold, which is coming off its best year since 1979, […]
Zelenskyy Resumes Russian Refinery Drone Strikes
October 15th, 2026Via: ZeroHedge: A defiant President Volodymyr Zelenskyy told the Financial Times on Thursday morning that Ukrainian forces will resume attacks on Russian refineries. The move certainly seems more political than anything else. Such attacks have been described as one of the drivers behind the global refining crisis, which has collided with Strait of Hormuz disruptions. […]
Banks Now Trying to Offload AI Data Center Debt They Just Underwrote
October 14th, 2026Via: Startup Fortune: JPMorgan, Morgan Stanley, SMBC and MUFG are quietly shopping pieces of the AI debt pile they helped build, a sign the lenders closest to the money have started hedging their own bet. Six months ago, banks were racing each other to underwrite data center loans tied to Oracle, Meta and the rest […]
Power Grid Emergency Declared Across 13 U.S. States
October 13th, 2026Via: Daily Mail: A power grid emergency affecting more than 60 million Americans has been declared as the US government scrambles to prevent outages across several states. The US Department of Energy (DOE) has issued a short-term emergency order under the Federal Power Act, allowing regional power grid operator PJM Interconnection to push past normal […]
Mexican Cartel’s Crypto Farm Seized in Mountain Raid
October 12th, 2026Just another day at the office. Via: Tom’s Hardware: There is increasing evidence that Mexican drug cartels are diversifying into cryptocurrency mining and are using crypto platforms to diversify their income and, at the same time, launder their ill-gotten gains and fund other illegal activities. Reuters reports that local Mexican police uncovered a clandestine cryptocurrency […]
Russia Will Sell Small Amount of Diesel Fuel Into Global Markets
October 9th, 2026Ukraine Strikes Major Russian Oil Hub Hours After Trump’s Deal With Putin Via: Newsweek: The loading terminal of Russia’s Novoshakhtinsk oil refinery caught fire overnight following reports of a Ukrainian drone strike just hours after President Trump announced a deal to supply millions of tons of Russian diesel fuel to the global market. The incident […]
The Federal Government Ran Up a $2 Trillion Deficit in 2026
October 8th, 2026Via: Reason: Fiscal year 2026 ended last week, and while official figures aren’t out yet, it looks like the federal government spent $2 trillion more than it took in. That’s not quite a record—in dollar terms, the federal government ran a bigger deficit in 2020 when the feds showered money on the country in hopes […]
