September 10
Cleveland Fed Forecast
Headline CPI on Friday: up 0.36 m/m and 3.38% y/y $4.2770
AAA gasoline is $4.277, up sharply from $4.009 a month ago
Insta
Germans are so funny. They can't stop talking about the decline of democracy in the US under Trump but then they suggest to just ban the party that just won in Germany
No Thank You:
Meta launches AI agent that can access other apps to send emails, make payments.
By the time we realize we’re past the A.I. point of no return it will be, by definition, too late
Mkts 2Y 10Y 30Y
Oil and bond markets price in a prolonged war
2Y yield spikes 14.4bp to 4.590% | close
10Y is 4.967%, higher by 12.2bp
Oil is $103.08, up $7.09, +54% since their July 2nd low
Brent is $108.39
S&P is down 0.48%
Gold is down $79
It's been a rough couple of days for the bond market. | Mort
Yesterday, it was Bessent and the reaction to the Treasury buyback announcement. Today it is an overnight surge in oil prices and a lackluster reaction to the Producer Price Index (PPI).
News
Yemen’s Houthis seize strategic city of Mocha in ‘stunning’ blow
This is being called a “strategic disaster” for the United States and Saudi Arabia, because it will give the Houthis an iron grip on the Bab el-Mandeb Strait. Needless to say, investors were spooked by this news. Unfortunately, there is no end in sight for this crisis.
Trump is showing signs of having lost touch with reality.
It’s time for Trump to face the facts, if he is mentally capable of doing so. What happened on February 28 was an ill-advised unilateral act of aggression by the U.S. and Israel that has backfired. The war was not launched to stop Iran from getting nuclear weapons. It was launched in hopes of triggering a regime change, throwing the country into chaos and then stealing its oil.
Trump Says ‘War’ to End After Mid-Terms, Promises $5k Dividend if Republicans Win | Peak
HSBC chief commodities economist Paul Bloxham stated that a broad-based “super-squeeze” is occurring across commodities. London copper traded above $14,700 per ton, Brent above $101, and the Bloomberg Commodity Index reached a 14-year high.
Lead Author and Historical Consultant to the 9/11 Commission Report, Worked for the CIA
Future independent historians are likely to view the 9/11 Commission Report as part of a pattern of government cover-up of state crimes analogous to the 1964 Warren Commission Report and 1942 Roberts Commission Report on Pearl Harbor
TRUST NO ONE
Trump: Race Does Not Exist on 2030 Census | Sailer
The Race Does Not Exist crowd is aghast.
The Commerce Department called the Race Does Not Exist crowd’s bluff by announcing it will be instructing the Census Bureau to stop including race and ethnicity check boxes on the 2030 Census.
The AI revolution will devour Apple
The shift to a phone as the main mechanism for the use and development of AI itself. Your next phone, be it a new iPhone or a new Google Pixel, be it iOS or Android, will be a figurative microphone onto the world — a microphone from which AI models can collect ever-increasing amounts of data to learn from, shaped in private by methods the public only has the foggiest idea of.
Y'all Street
The project will consolidate two existing Goldman offices into a single campus and give the firm more room to expand in a city that is already its second-largest U.S. base after New York, with roughly 4,500 employees across North Texas.
Debt Rattle
Russiagate Is Finally Heading Somewhere Washington Hates: Under Oath
Midterms: In 2010, Barack Obama, with a 45% approval rating, saw the Democrats lose 63 seats.
In 2018, Donald Trump, with a 41% approval rating, lost 40 seats.
And in 1994, with Bill Clinton’s approval rating at 48%, Democrats lost 54 seats.
At the 2026 Socialism conference over Labor Day on Chicago
More than three years after the end of the Covid-19 pandemic, the conference required attendees to wear masks at all times. The conference dedicated an entire session to family abolition “through a Black feminist lens.” Like a kindergarten classroom, attendees sat in a circle and used Crayola markers to participate in coloring activities.
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