Yet this backlash is itself dangerous. AI promises to change the world for the better, much as electricity or the steam engine did. Not long ago, the era-defining problem for the rich world was stagnant economic growth and the populism it unleashed. Now it has a technology that could power a surge in productivity and incomes, help find cures for untreatable diseases and improve everything from education to green tech.

All this could be lost if countries starve the technology of computing power or regulate it into uselessness. Look at mRNA vaccines research, which has been held back after a backlash during the covid-19 pandemic.

Scenarios in which some countries give in to popular rage but others forge ahead are also worrying. If America succumbs, it could cede the global ai frontier, and the attendant cyber and military capabilities, to authoritarian China. Europe and Canada are more risk-averse than America. If they choked off AI while the rest of the world kept pushing forward, their losses could be unrecoverable. More than two centuries after the Industrial Revolution, few countries have managed to catch up with the first movers.

So the stakes are high. Can governments do anything about it? Grand proclamations about the shape of a “social contract” for a post-AI world are good fodder for blog posts but offer little help today. Besides, the unknowns are still large enough to make the exercise almost futile.

Better to be incremental. 

Read it all.

Persuading voters that their interests are being served by AI’s disruption has become as important as making models better. The failure to do so would destroy vast opportunities for humanity https://t.co/5S9EGzPIHg

— The Economist (@TheEconomist) June 25, 2026

 Two-thirds of Americans surveyed in a June 1-15 Gallup poll say the cost of fuel has caused financial hardship for their household, similar to the level recorded when gas prices were similarly high in 2022 and at other times over the past two decades when gas prices were elevated — especially 2005, 2008 and 2011.

Although most people are feeling the pinch from high fuel prices, 17% of those experiencing financial hardship because of high gas prices call it “severe.” That is slightly lower than the 22% found four years ago.

Gallup’s trended data suggest that Americans are especially sensitive to average pump prices reaching new levels — often widely reported in the news. Each time a new threshold has been crossed for a sustained period, the share of Americans reporting financial hardship has risen sharply. This includes when prices went above $2 per gallon in 2005, above $3.50 in 2008, above $3.75 in 2011 and above $4 in 2022.

Read it all.

Gas Prices Hitting Americans' Finances, Travel Plans https://t.co/ddsER2mq8P

— Todd Nicolini Insights (@InsightsTodd) June 25, 2026

“It’s going to be an absolute nightmare,” says an executive at a big American tech company. He is talking about an emerging problem for businesses that use artificial intelligence. AI agents—bots that can read, interpret and act—use masses of processing power and have started to run up huge bills. As they proliferate, the problem will grow. Big companies, the executive points out, typically use hundreds of software programs. If each of those offer agents (as they probably will), AI costs could easily spiral out of control.

Budget management is a new worry for AI adopters. Not long ago employees were encouraged to binge on the technology, as bosses and investors saw spending as a sign of innovation. Burning through vast numbers of tokens—the chunks of text that models process, which are often used as a unit of pricing—became a badge of honour; techies dubbed it “tokenmaxxing”. Companies showed off staff’s AI use on internal leaderboards. Meta’s display awarded top users titles like “Token Legend”.

Such incentives partly explain the boom in AI spending. Another contributing factor is a change in the way enterprises use the technology. Token-heavy applications, such as reasoning models and agents, are growing more popular. In some cases agents build their own agents, sending costs higher still. Ramp, a corporate-credit-card provider, analyses its clients’ transaction data to shed light on how they use AI. It reckons their overall spending has risen 13-fold in the past year. In April Uber said that it had already spent its annual AI budget in four months. Other firms are experiencing similar problems. One reportedly spent $500m on AI tokens in a month. Sam Altman, the boss of OpenAI, has described mounting customer costs as “a huge issue”.

For now, the problem is concentrated. The top spenders tend to be tech firms….

Read it all.

Burning through vast numbers of tokens—the chunks of text that models process, which are often used as a unit of pricing—was once a badge of honour. Now budget management is a worry for AI adopters https://t.co/TZsf1H2BHC

— The Economist (@TheEconomist) June 16, 2026

Mr. Bezos said he was spending a significant amount of time working on the company, which is based in San Francisco.

Dr. Bajaj is a trained scientist with significant experience in industry. After studying as a physicist and a chemist, he worked closely with the Google co-founder Sergey Brin at Google’s X, a research effort inside the tech giant often called “the Moonshot Factory.” Google X created ambitious projects that have since become their own companies under the umbrella of Google’s parent company, Alphabet, including the drone delivery service Wing and the self-driving car company Waymo.

In 2015, Dr. Bajaj helped found Verily, a research lab that focuses on the life sciences. Like Waymo and Wing, Verily is operated by Alphabet.

He later co-founded and served as chief executive of Foresite Labs, an effort to create A.I. and data science start-ups. He left that job to focus on Prometheus.

Mr. Bezos and Dr. Bajaj declined to reveal many details about how the company aims to build its new A.I. tools.

Read it all.

Jeff Bezos Wants to Build an "Artificial General Engineer"

As co chief executive of the start up Prometheus, the Amazon founder is using A.I. to improve how devices ranging from computers to jet engines are made.

This is how the acceleration escapes the screen and enters atoms. pic.twitter.com/ldKfFIi3Ib

— Dr Singularity (@Dr_Singularity) June 12, 2026

Social Security is expected to deplete the fund that helps pay out retirement benefits by late 2032, the program’s trustees said Tuesday.

That is earlier than their projection last year of 2033, partly because the fund expects to collect less revenue after President Trump’s new tax law. Passed last summer, the law gave senior citizens an extra deduction that reduced taxes on benefits for many Social Security recipients. . .

Unless Congress shores up the retirement program, the depletion of reserves would trigger a 22% reduction in benefits in late 2032. Because incoming payroll tax revenue doesn’t fully cover promised benefits, the program is forced to make up the difference by pulling money from its two Social Security trust funds—one for disability benefits and the other for the larger program for retirees…

Read it all.

"Social Security Will Start Running Out Earlier Than Expected" https://t.co/c9X74I9lvM pic.twitter.com/fvWj2vcW9O

— Scott Lincicome (@scottlincicome) June 9, 2026

A new style of architecture is rising in the sprawling suburbs of the Sonoran Desert: windowless data centers that hum 24 hours a day and guzzle as much electricity as a midsize city.

As Microsoft and other tech giants expand their footprints in one of the nation’s largest data-center markets, a high-stakes battle is unfolding over how to pay for the massive power-grid upgrades needed to drive the AI revolution. 

Arizona Public Service, the state’s largest utility, sits at the center of the firestorm. APS is proposing a 45% electricity-rate increase for “extra-large energy users,” primarily data centers, and a roughly 14.5% increase for residential customers.

Nearly everyone is unhappy.

Consumer advocates warn the plan would shift the financial risks of the AI build-out to households already struggling with high summer electricity bills and temperatures that often hit triple digits. If the AI boom fizzles or the energy consumption of data centers wanes, they worry residents could be left paying off the infrastructure upgrades years from now.

Read it all.

Phoenix Is a Data-Center Mecca—and Test Case for How to Pay for AI’s Power Needs
State’s largest utility is proposing a 45% electricity-rate increase for data centers and a 14.5% hike for households. No one is happy.https://t.co/m1xMQtoJsq

— Giovanni Staunovo🛢 (@staunovo) June 4, 2026

Something new is stirring on the left. A fresh crop of socialists want to remake the economy with price controls, hefty wealth taxes and a spree of nationalisations. Supercharged by fury over Gaza, they are winning voters at a formidable pace. Many rose to prominence only recently, like Zack Polanski, who leads the Green Party in Britain, or Zohran Mamdani, the mayor of New York. Others are long-standing political fixtures: the septuagenarian Jean-Luc Mélenchon is on his fourth swing at the French presidency, but thumping support from the 20-somethings of “Generation Z” has put the Elysée back in his sights again.

Call it Gen-Z socialism. Not because all its adherents are young—or because it is new for young people to lean leftward—but because it is the brand of leftism, made for the TikTok era, that today’s young revolutionaries support.

Forget weighty collectivist ideals or seizing the means of production. Gen-Z socialism is a me-first doctrine. Climate change and race, preoccupations of the 2010s and early 2020s, are now much more peripheral concerns. So are social issues, barring Gaza. Angst about inflation, housing and artificial intelligence have replaced all that with something cruder. “This country is awash in wealth,” says Avi Lewis, freshly elected leader of the New Democratic Party in Canada, a country where productivity has been all but flat for a decade. “We can have nice things.” Saying that prices should be capped to keep your bills down while someone else pays for your public services is a seductive, shareable message.

Read it all.

Gen-Z socialism is wrong about how to fix the problems of capitalism. It must be resisted, because it is a profound threat to prosperity https://t.co/6n1i5xrJV2

— The Economist (@TheEconomist) June 4, 2026

ust 16% of U.S. adults and 12% Canadian adults are financially fulfilled, according to analysis of the inaugural Edward Jones and Gallup Money and Meaning: Understanding Financial Fulfillment study. Financial fulfillment is a state where people’s personal finances support the life they want to have.

In contrast, 32% of U.S. adults and 41% of Canadian adults experience consistent financial stress, characterized by straining to meet obligations, needing to make trade-offs between financial and life goals, and feeling they lack control over their financial situation. The largest share in each country, described as “financially conflicted,” experience some progress but still contend with ongoing financial strain.

These findings are based on web interviews conducted March 20-April 6, 2026, with 5,075 U.S. adults aged 21 and older who are members of the probability-based Gallup Panel and March 25-April 3 with 2,117 Canadian adults aged 21 and older from a nonprobability online panel. Both samples were weighted to represent the adult population in each country on key demographic characteristics.

The financial fulfillment measure is derived from a statistical analysis of 37 items that measure financial wellbeing, the emotional aspects of financial life, and how closely financial decisions align with people’s values.

Read it all.

Half of U.S. adults (51%) are financially conflicted — not in crisis, yet lacking financial security.

New research from Edward Jones and Gallup shows how finances affect people’s health, relationships and confidence in their future. Representing 133 million Americans, the… pic.twitter.com/3GEhhJK3zp

— Gallup (@Gallup) June 2, 2026

Between July 1, 2024, and July 1, 2025, South Carolina’s population grew at a rate of 1.5 percent, faster than any other state in the country, according to the U.S. Census Bureau.[1]

South Carolina has consistently recorded rapid population growth, ranking in the top six among all states in each of the last five years for percentage change. Within the last five years, South Carolina’s population growth peaked at a rate of 1.9 percent between July 2022 and July 2023, which was also the third fastest growth rate in the country.

There are three major components to state population growth: natural change, which is calculated by subtracting the number of deaths from the number of births; international migration, which is the number of people moving from outside the country; and domestic migration, which is the number of people moving from another state within the country.  

From July 2024 through July 2025, South Carolina’s population increased by nearly 80,000 people. Births in the state exceeded deaths for the first time in the last five years, by 564 people, therefore having a small effect on the natural growth of the population. 

Read it all.

Where Americans moved to and from in 2025.

Massachusetts experienced the most loss of any state, Kansas the most of any Republican state, and South Carolina grew the fastest of any state. In contrast, Delaware grew the fastest of any Democrat state.

Republican states dominated… pic.twitter.com/XiJnads08m

— AF Post (@AFpost) May 25, 2026

Elon Musk’s SpaceX pulled back the curtain on a business empire that has racked up ballooning losses and debt after acquiring a cash-hungry startup, and pumping billions of dollars into futuristic endeavors ranging from AI to a Mars rocket.

The prospectus that SpaceX filed Wednesday for an IPO of unprecedented size boiled down to a well-worn strategy that entrepreneurs commonly hawk up and down Wall Street: in order to make money, we need to spend money. And nowhere are the outlays larger than in space and artificial intelligence.

“The big takeaway for me is that SpaceX is now an AI company,” said Chad Anderson, an early SpaceX investor and founder of Space Capital.

Musk is seeking to pull off the unprecedented feat of achieving a $2 trillion valuation from the outset, an audacious plan that’s set to transform both the public and private markets if it succeeds. At the same time, the prospectus lays bare concerns over whether private companies with limited financial disclosures and largely illiquid shares are reaching unjustified valuations in venture capital-led funding rounds.

Read it all.

Elon Musk is seeking to pull off the unprecedented feat of achieving a $2 trillion valuation from the outset, an audacious plan that’s set to transform markets if it succeeds. Read more: https://t.co/9IYTIOGzoh

📷: Brandon Bell/Getty Images pic.twitter.com/1EFis4o0TP

— Bloomberg (@business) May 21, 2026

The United States has the largest gap of any country in job market perceptions between younger and older adults, with the former feeling much less positive. In 2025, 43% of Americans aged 15 to 34 said it was a good time to find a job locally, 21 percentage points lower than for Americans aged 55 and older.

It is rare for younger adults to be significantly less positive about local job conditions than the oldest age group. In only five other places — China, Serbia, the United Arab Emirates, Hong Kong and Norway — does this pattern hold, in which younger adults lag by at least 10 points.

Globally, a median of 48% of adults aged 15 to 34 said it was a good time to find a job locally in 2025, compared with 38% of adults aged 55 and older, a gap of 10 points in the other direction.

Read it all.

Young Americans' job market optimism falls as older adults stay upbeat, new Gallup poll finds https://t.co/FoXt6CXwKa

— Drmikemyers (@drmikemyers) May 11, 2026

Workers who enjoy what they do each day rate their lives more than a full point higher on Gallup’s zero-to-10 life evaluation scale than those who don’t enjoy what they do, according to a new Gallup analysis of more than 350,000 employed adults across 149 countries from 2020 to 2025.

But the analysis also reveals that job choice and purpose play an outsized role among specific populations, including full-time employees, workers in their peak career-building years and those living in lower-income economies.

Data from the Gallup World Poll show that, of three aspects of the work experience measured globally, enjoyment of daily work has the strongest and most consistent relationship with broader wellbeing outcomes. This pattern holds across most countries, age groups and employment types — though the relative importance of purpose and choice varies by context.

Work occupies a central place in people’s lives, shaping not only economic outcomes but also how people experience and evaluate their lives overall. To better understand this connection at a global level, Gallup, in collaboration with the Wellbeing for Planet Earth (WPE) Foundation and Persol, measures three core aspects of workplace wellbeing: enjoyment, purpose and choice. These dimensions reflect how work is experienced on a daily basis, whether it is seen as improving the lives of others, and the degree of freedom people have in what they do. These dimensions are closely connected: Having greater choice in one’s work can shape both the enjoyment people experience day to day and the sense of purpose they derive from it.

Read it all.

Globally, workers who do enjoy their daily work rate their lives more than a full point higher on a zero-to-10 scale than those who don’t enjoy it. pic.twitter.com/od3kRncXlC

— Gallup (@Gallup) May 6, 2026

While headlines, industry hype and employers suggest a near-term revolution that will make workers more efficient and successful, [Daron] Acemoglu offers a more measured—and unsettling—view.

He agrees that recent advances, particularly in “agentic” AI, are moving faster than expected, but that today’s systems fall short when it comes to reliability, reasoning and real-world understanding. That means any sweeping, immediate transformation of jobs and productivity remains unlikely in the near-term. But the uncertainty about what comes next is higher than ever, and Acemoglu warns that tech giants are overwhelmingly focused on replacing workers rather than complementing them. This, Acemoglu says, risks both weaker productivity gains and serious social consequences.

Read it all.

Nobel Prize–winning economist Daron Acemoglu warns that multiple factors are driving a labor-replacement model, with dire consequences for society https://t.co/XWEYwny4Fa

— Bloomberg (@business) March 18, 2026

ZENIT spoke with Father Tarcisio Giuseppe Stramare of the Congregation of Oblates of Saint Joseph, director of the Josephite Movement, about Tuesday’s feast of St. Joseph the Worker….

ZENIT: What does “Gospel of work” mean?

Father Stramare: “Gospel” is the Good News that refers to Jesus, the Savior of humanity. Well, despite the fact that in general we see Jesus as someone who teaches and does miracles, he was so identified with work that in his time he was regarded as “the son of the carpenter,” namely, an artisan himself. Among many possible activities, the Wisdom of God chose for Jesus manual work, entrusted the education of his Son not to the school of the learned but to a humble artisan, namely, St. Joseph.

Read it all.

Happy Solemnity of Saint Joseph 😇🥳🙏

Icon by the hand of Annette Lawrence dmj pic.twitter.com/ftLwfiRuep

— Sister Walburga (@SisterWalburga) March 19, 2026

O God, who from the family of your servant David raised up Joseph to be the guardian of your incarnate Son and the spouse of his virgin mother: Give us grace to imitate his uprightness of life and his obedience to your commands; through Jesus Christ our Lord, who lives and reigns with you and the Holy Spirit, one God, for ever and ever.

SAINT JOSEPH, EPOUX DE LA BIENHEUREUSE VIERGE MARIE.
« Il l’a sanctifié dans sa foi et dans sa douceur, et il l’a choisi entre tous les hommes. » (Qo 45)
[Guido Reni, 1640] pic.twitter.com/7BtbfoyJmo

— Gloria ! (@Gloria_T_Domine) March 19, 2026

I am not, by temperament, a gambling man. As a suburban dad with four kids, a mortgage, and a minivan, I’m more likely to be found wrestling a toddler into a car seat than scouring moneylines or consulting betting touts. And as a practicing Mormon, I am prohibited from indulging in games of chance. Besides, I had always thought of gambling as a waste of time. This makes me an outlier among my generational peers: Since 2018, Americans have wagered more than half a trillion dollars on sports, and roughly half of men ages 18 to 49 have an active account with an online sportsbook.

When I set out to report on the sports-betting industry—its explosive growth, its sudden cultural ubiquity, and what it’s doing to America—my editors thought I should experience the phenomenon firsthand. Mindful of my religious constraints, they proposed a work-around: The Atlantic would stake me $10,000 to gamble with over the course of the upcoming NFL season. The magazine would cover any losses, and—to ensure my ongoing emotional investment—split any winnings with me, 50–50. Surely God would approve of such an arrangement, my editors reasoned, because I wouldn’t be risking my own hard-earned money.

This spiritual loophole intrigued me. But for the sake of my soul, I decided I’d better consult a higher ecclesiastical authority than The Atlantic’s masthead.

A few days later, I sat across from my bishop, explaining the experiment and watching a look of pastoral concern come over his face. After some consideration, he said (a bit tentatively, if I’m being honest), “I don’t think you’re doing anything wrong.” He grasped the difference between gambling with my own money and using my employer’s for research purposes. But he had also seen too many lives wrecked by vice to let me leave without a warning. He told me stories he’d heard about upstanding family men who had let an initially modest gambling habit ruin them, and a cautionary tale about a churchgoing lawyer who developed an unhealthy curiosity about sex work after handling a prostitution case and wound up devastating his family.

I promised the bishop that I would steer clear of slippery slopes. “This will really just be a journalistic exercise,” I assured him.

Read it all.

The Atlantic: Sucker – My year as a degenerate gambler – A fantastic longform article on gambling https://t.co/9ShN6LGFwD

— Aaron M. Renn 🇺🇸 (@aaron_renn) March 13, 2026

President Donald Trump’s war with Iran threatens to deal a severe blow to a global economy still grappling with the impact of his historic tariff hike.

For Europe, sustained higher energy prices would take the economy to the brink of recession. For the US, they would place the Federal Reserve in an impossible position — stuck between a war that pushes inflation higher and a president demanding that interest rates come down. For China, the end of discounted Iranian oil imports adds to strain from Trump’s tariffs and a real estate collapse.

In the first days of the fighting, the intensity is high and the endgame uncertain. Bloomberg Economics has modeled scenarios for what lies ahead, and what they mean for oil prices, major economies, and the future of Iran.

It is, of course, possible that Washington and Tehran find an off-ramp, oil settles back at its pre-escalation average of $65 a barrel, and the global economy dodges a blow.

The latest signs, though, suggest there’s worse to come….

Read it all.

The war in Iran threatens to unleash a wave of inflation at a time when economies worldwide are already in a tight spot. Read more in the Canada Daily newsletter. https://t.co/iWX5sR3kZB

— Bloomberg (@business) March 4, 2026

In 1973 a club of Arab petrostates held the world to ransom by halting crude-oil exports to countries they accused of supporting Israel. Petrol prices soared; Western economies buckled. Today the danger is that China will use its grip on other natural resources to achieve its aims, such as seizing Taiwan. It has already shown its power by choking off exports of rare-earth metals last year. That is why America is staging its biggest intervention in commodity markets in decades.

The battleground is the supply of “critical” metals, a group of minerals vital to making military, electrical and computing infrastructure—everything modern economies need to be safe, high-tech and green. China supplies most of these: it mines about 80% of the world’s tungsten, for instance, and refines 99% of its gallium. This is spurring America into an all-out campaign to diversify its sourcing of 60 minerals. It has pledged billions of dollars to dozens of mining projects at home and abroad, floated plans to create price floors and trade blocs, and announced a vast stockpile to cover months of national needs. The risk now is that America depends too much on its scattershot efforts—and that, in seeking control, it breaks the flexible and resilient system of market incentives that ensures the smooth functioning of the global economy.

China’s grip on critical minerals has exposed the West’s most serious strategic weakness in many years. Last April, during its trade war with America, China restricted exports of seven crucial rare earths; it targeted another five in October. Nearly a third of Pentagon procurement programmes faced the risk of shortages, as did industries from carmaking to renewable energy. The prospect of large-scale disruption prodded President Donald Trump into a trade truce with Xi Jinping, as well as a relaxation of American controls on some technology exports. Yet Mr Xi can deploy the weapon again whenever he chooses. Meanwhile, exports of rare earths for dual-use applications—the expanding grey zone between military and civilian uses—remain largely barred, sapping Western efforts to rearm….

Read it all.

America is racing to break China’s chokehold on critical minerals—but its approach has flaws. It should follow three principles https://t.co/t5SkUsYgjf pic.twitter.com/BgoWViJBZv

— The Economist (@TheEconomist) February 26, 2026

Donald Trump’s new 15 per cent global tariff will most greatly benefit countries he has singled out for heavy criticism, including China and Brazil, data analysis shows.

An examination of the new regime by independent trade monitoring body Global Trade Alert found that Brazil will enjoy the biggest reduction in average tariff rates — falling by 13.6 percentage points — followed by China, with a 7.1 percentage point reduction.

Long-standing US allies including the UK, the EU and Japan will suffer the largest hit from the new levy, which the US president introduced after the Supreme Court ruled much of his previous trade policy unlawful on Friday.

Read it all.

Trump’s new flat-rate tariff will boost China and Brazil https://t.co/lGsVynEEwa

— Financial Times (@FT) February 22, 2026

The Supreme Court’s 6-3 decision on Friday wiping out a chunk of President Donald Trump’s tariff regime is a triumph for the Constitution’s separation of powers and the individual liberty that it protects.

The decision by Chief Justice John G. Roberts Jr. says nothing about whether the tariffs are good or bad policy. But it recognizes that they are a major tax, and that raising revenue is a “distinct” power that belongs to Congress. There’s a reason the 18th century American revolutionary slogan was “no taxation without representation.” Taxing citizens without consent from their elected representatives is antithetical to the American project.

Congress never approved the worldwide tariffs at issue in the case. Trump told the court they were authorized by a 1977 law, the International Emergency Economic Powers Act. No president has used IEEPA to impose tariffs, but it contains the phrase “regulate … importation.” Trump said that was sufficient authorization for him to throw out the rest of the tariff schedules and set import taxes however he pleased.

Roberts saw the flimsiness of that reasoning. “Based on two words separated by 16 others,” he wrote, “the President asserts the independent power to impose tariffs on imports from any country, of any product, at any rate, for any amount of time. Those words cannot bear such weight.” Indeed. The executive branch can’t be allowed to grab hundreds of billions of dollars from the American people on such a thin legal basis.

Read it all.

The Supreme Court’s decision to invalidate the Trump administration’s broad tariffs strips the president of a central instrument of his foreign policy, undercutting his ability to coerce global leaders and reshape world order in his second term.https://t.co/mktSe8eQIw

Starting with the 2024 decision that gave President Trump substantial immunity from prosecution and continuing through a score of emergency orders provisionally greenlighting an array of his second-term initiatives, Mr. Trump has had an extraordinarily successful run before the Supreme Court.

That came to a sudden, jolting halt on Friday, when Chief Justice John G. Roberts Jr., writing for six members of the court, roundly rejected Mr. Trump’s signature tariffs program. It was the Supreme Court’s first merits ruling — a final judgment on the lawfulness of an executive action — on an element of the administration’s second-term agenda. It amounted to a declaration of independence.

It also served as another in a series of clashes between the leaders of two branches of the federal government cut from very different cloth: the controlled, cerebral chief justice and the biting, brazen president.

Read it all.

The Supreme Court’s Declaration of Independence https://t.co/c3j3a7tlnQ via @NYTimes

— Luba Howard 🇺🇦 (@marynlm) February 20, 2026

It’s hard to recall a regulator who has done as much damage to medical innovation in as little time as Vinay Prasad. In his latest drive-by shooting, the leader of the Food and Drug Administration’s vaccine division rejected Moderna’s mRNA flu vaccine without even a cursory review. This is arbitrary government at its worst.

The FDA rarely refuses to review a drug or vaccine application. Our sources say the FDA has rejected only about 4% of applications without a review, typically when they are missing important information. That wasn’t the case with Moderna.

Dr. Prasad spiked Moderna’s flu vaccine because its Phase 3 trial was putatively not “adequate and well-controlled.” He quibbled that the control group in Moderna’s late-stage trial didn’t receive the “best-available standard of care.” He decides what is “best.”

Moderna launched a global randomized controlled trial in September 2024 with 41,000 participants, half of whom received its vaccine. The other half received a standard flu vaccine as a control. The FDA blessed its trial design, and agency staffers gave Moderna a thumbs up to apply for approval last August based on the results. Its vaccine was 27% more effective at preventing symptomatic cases of flu and 49% more effective against hospitalization than the standard flu vaccine.

Read it all.

The WSJ Editorial Board weighs in:
“It’s hard to recall a regulator who has done as much damage to medical innovation in as little time as Vinay Prasad. In his latest drive-by shooting, the leader of the Food and Drug Administration’s vaccine division rejected Moderna ’s mRNA flu…

— Amy Siskind 🏳️‍🌈 (@Amy_Siskind) February 13, 2026

As the Trump administration stymies hundreds of commercial solar and wind projects nationwide, legislators in 24 states want to literally put the power in the hands of the people by allowing modest solar energy systems on balconies, porches and backyards.

Last year, in an unanimous vote, Utah became the first state in the nation to pass a law allowing residents to plug small solar systems straight into a wall socket. These systems, which retail for around $2,000, produce enough electricity to power a laptop or small refrigerator.

In just a matter of months, legislators in 23 other states have announced similar bills, including California and New York. If passed, the legislation would eliminate one of the technology’s biggest barriers in the United States: homeowners or renters could install plug-in panels systems, in most cases up to 1200 watts, without approval from their local utility.

Proponents also hope the bills speed the development of a set of safety standards that could open the floodgates to wider adoption.

Read it all.

NYTimes: 24 States Weigh Legislation To Allow You To Make Your Own Electricity With Small, Plug-In Solar Power Systems https://t.co/4EU7CMaxaw

— PA Capitol News (@PaCapitolNews) February 11, 2026

The first four months of fiscal year 2026 got off to an expensive start for the U.S., according to the latest estimates from the Congressional Budget Office (CBO) .

The CBO released a report yesterday detailing that, for the first third of FY26 (which began in October), the U.S. government operated at a deficit, and so borrowed $696 billion. That included $94 billion in January alone, and works out to an average of $43.5 billion for each of the 16 weeks of the four months since.

While America’s government spending outweighs its revenue generation, its finances are also negatively compounded by the interest payments needed to maintain its debt. Total national debt now sits at more than $38.5 trillion. U.S. GDP is about $31 trillion, according to the Federal Reserve Bank of St. Louis.

Read it all.

"America borrowed $43.5 billion a week in the first four months of the fiscal year, with debt interest on track to be over $1 trillion for 2026" https://t.co/2PBD5escW8 pic.twitter.com/rTJXR6L30A

— Scott Lincicome (@scottlincicome) February 10, 2026

‘In large corporations and administrations, justification and self-protection have become the primary motive in place of achievement. In this world, intuition is not talked about openly, but relied on surreptitiously.’

–Gerd Gigerenzer, The Intelligence of Intuition (Cambridge: Cambridge University Press, 2023)

Gerd Gigerenzer:

Why simple rules of thumb often outperform complex models.https://t.co/FrPo8Csqfd

— GuruAnaerobic (@GuruAnaerobic) March 2, 2021

Those who believe in Elon Musk are convinced both by his vision to go where no one has ventured before and his ability to pay for it—what some call the “Elon backstop”. Mr Musk’s announcement on February 2nd that he will merge SpaceX, which builds rockets and sells satellite broadband, with xAI, his artificial-intelligence lab, was not short of ambition. The world’s richest man declared that the new company would “extend the light of consciousness to the stars”. Back on Earth, however, it is getting harder to see how Mr Musk’s numbers add up.

The transaction values the new entity at $1.25trn; investors in SpaceX will be entitled to 80%, with the remainder going to xAI’s owners (Mr Musk holds a controlling stake in both). The stated rationale behind the tie-up is that the companies will work together to launch a fleet of data centres into space, giving xAI a big advantage in the race to develop cutting-edge models while furnishing SpaceX with a new line of business. More immediately, combining the two could further boost interest in a public listing expected this summer.

By bringing SpaceX and xAI together, however, Mr Musk is saddling a money-spinning space champion with a loss-making AI laggard. At the same time, he is reshaping Tesla, the carmaker he runs, into a “physical-AI company” focused on self-driving taxis and humanoid robots. If the latest wave of AI proves as transformative as some expect, these bold gambles might just pay off. If not, Mr Musk’s business empire could well be in jeopardy.

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The fates of xAI, SpaceX and Tesla are increasingly intertwined https://t.co/UlUWKowPVk

— The Economist (@TheEconomist) February 4, 2026

President Trump announced on Friday that he was nominating Kevin M. Warsh to serve as the next chair of the Federal Reserve, positioning the former central bank governor to take a pivotal role in steering an institution that has faced a barrage of attacks from the administration over its reluctance to more aggressively lower interest rates.

In a post on Truth Social, Mr. Trump praised Mr. Warsh, saying, “He will go down as one of the GREAT Fed Chairmen, maybe the best.”

“On top of everything else, he is ‘central casting’ and will never let you down,” the president wrote.

Mr. Trump repeated that line during remarks at the White House and said that while he did not get a commitment from Mr. Warsh to cut rates, he expected that he would do so.

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President Trump picks a reinvented Kevin Warsh as the next chair of the Fed. Warsh, who served on the US central bank's Board of Governors from 2006 to 2011, would succeed Jerome Powell when his term ends in May. As a Fed governor from 2006-11, Warsh called for higher rates even… pic.twitter.com/qtG5DGUtUv

— Holger Zschaepitz (@Schuldensuehner) January 30, 2026

Investors are betting the Trump administration will run the economy “hot” ahead of midterm elections, with buoyant stocks and a weaker dollar reflecting expectations of strong growth and rising inflation.

A string of robust economic data has defied predictions of a slowdown in the US, sending credit spreads to the tightest levels of the century and helping stocks hit fresh record highs this month.

At the same time, fund managers said there is a growing belief that President Donald Trump’s tax cuts, deregulation push and campaign for lower interest rates will add more fuel to the economy this year, as the president seeks to bolster support ahead of November’s congressional polls. “There is a carefully engineered plan to have the US economy humming into the summer,” said Arif Husain, head of global fixed income at T Rowe Price.

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Investors bet on ‘hot’ US economy heading into midterm elections https://t.co/Qs7rCZ017g

— Financial Times (@FT) January 28, 2026

Most years, presidents don’t have much impact on the economy; it is just too big and complicated.

This year won’t be like most years. President Trump is taking unprecedented steps to run the economy hot, and there is an excellent chance he’ll succeed.

Washington has three big levers that affect growth: fiscal policy (taxes and spending), monetary policy (interest rates) and credit policy (the ease of borrowing). Historically, they were not coordinated: Fiscal policy followed the congressional cycle, monetary policy was set by an independent Federal Reserve and credit policy reflected often random decisions by regulators.

This year, all three are dialed toward stimulus, reflecting a single-minded focus by Trump and congressional Republicans on faster economic growth. They hope that will deliver victory in the November midterm elections.

In the process, they are compromising other goals: taming debt, Fed independence and long-term financial stability. The consequences of that come later.

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Under my taxonomy, there are 3 macro policy levers: fiscal, monetary and credit. This year, Trump has dialed all 3 towards stimulus in order to run the economy hot. This is unprecedented, and will probably work. The costs come later. https://t.co/7RTaSK2I5D

— Greg Ip (@greg_ip) January 14, 2026

An online Christmas service designed for people working shifts will be released on the Church of England website at 6 a.m. on Christmas Day.

Lasting 15 minutes, so that it can be watched in the course of a break from work, the service was created in response to a request by hospital chaplains, and includes a Gospel reading, sermon, prayers, and music.

The Bishop of London, the Rt Revd Sarah Mullally, features in the service. A former nurse, and Chief Nursing Officer for the NHS, she says that she has “fond memories” of working on Christmas Day.

“Although not always easy, it is a privilege to be with people who need us most at this time. And of course, we receive so much from them too.”

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An online Christmas service designed for people working shifts will be released on the Church of England website at 6 a.m. on Christmas Day.https://t.co/dVHP8yQ3VK

— Church Times (@ChurchTimes) December 24, 2025