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I don’t think you can bet against America. The country has been remarkably resilient over time. At the same time, I view the sickness that we face as being pretty deep. And I also view the challenges that we have to navigate together as being more profound than any we’ve faced in our history.
~ Dean Ball via The Atlantic

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The surge of real investment now occurring in semiconductor manufacturing and data centers has been funded primarily by corporate profits and old-fashioned bonds, while the emergence of more speculative and exotically engineered arrangements among A.I. companies are already giving rise to concerns of a bubble. The financialized features of the American system are not what make our robust capital markets the envy of the world.
~ Oren Cass via The New York Times

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