Category : T19 Categories

(Asia Times) Asia’s lonely economy of one

For most of modern history, the household was a bundle. Under one roof, families pooled rent and meals, raised children, cared for parents, kept each other company and insured one another against bad luck. Nobody itemized it, and national accounts barely noticed.

Across East Asia, that arrangement is coming apart, and one line item after another has turned into something you pay for. The loneliness economy is the usual name for the result; the unbundling of the family household is the more accurate one.

In South Korea, single-person households are now 36% of the total, the largest category. Japan was at 38% in 2020 and is expected to reach 44% by 2050; Tokyo is already past half.

China’s 2020 census found 125 million people living alone, equal to one in four households. Fertility has fallen in step. South Korea’s rate is 0.80, Hong Kong’s is 0.84 and Taiwan’s births fell 20% in 2025 alone.

The money has followed. Discovery Reports, a Chinese research firm, puts spending by singles in China at more than US$1 trillion in 2025, up about 50% in two years. The “silver economy” serving the elderly is expected to reach 30 trillion yuan, about $4 trillion, by 2035. Pop Mart, the toymaker behind Labubu, reported $5.4 billion in revenue last year, up 185%.

Read it all.

Posted in * Culture-Watch, Asia, China, South Korea

(PD) Homer Against the Attention Economy  

Peter Green’s translation of the Odyssey keeps Homer’s repeated epithets and formulaic phrases fully intact. Achilles remains “swift-footed” whether he is fighting or sitting in his tent. Green’s English is plain and meant to be read aloud; he preserves the repeated epithets and formulaic phrases precisely because the repetition itself is part of the point. Read Green and you will hear “wine-dark sea” and “rosy-fingered dawn” exactly as Homer repeated them. 

Robert Fagles took the opposite approach. Uncomfortable with straight repetition, he worked to make the epithets contribute to the drama of each moment. Where Homer has Hector carry his “shining helmet” unchanged from line to line, Fagles makes the helmet flash repeatedly, until the device starts to feel more like a cinematic lighting effect than a Homeric formula.  

More recently, Emily Wilson made the choice consciously rather than instinctively. She explained to the Chicago Review of Books that repetition means something different depending on who is listening: in Homer’s oral culture, repetition signaled that something is important and worth listening to and remembering. Back in 2017 she shared in that same interview her belief that in a literate culture like ours, the same repetition reads instead as unimportant, something to skip. She therefore chose to preserve the feeling of Homer’s repetition through variation, rather than reproduce the exact words. Dawn still appears as often as she does in the Greek, and each appearance keeps the recurring imagery of roses, flowers, pinkness, fingers, and newness, but the phrasing changes from occurrence to occurrence. 

Wilson has since reconsidered that decision. After finishing her Iliad and living longer with the Homeric material, she returned to the Odyssey and began an entirely new translation. In a March 2026 talk at the University of Iowa titled “Realms of Gold: Re-translating Homer in the Twenty-First Century,” and in subsequent interviews, she has said that her experience has changed her understanding of repetition: she now sees more clearly how repeated phrases create patterns across the poem and help readers recognize connections between scenes. She is allowing herself more lines and syllables than in the first version precisely so that more of those repetitive elements can remain. The fact that she is willing to redo one of the most successful and widely read translations of the last decade because of this shift is rare and revealing. 

Read it all.

Posted in Anthropology, Books, Education, History, Language

A Prayer for the Feast Day of Catherine of Genoa

Gracious God, reveal to thy church the depths of thy love; that, like thy servant Catherine of Genoa, we might give ourselves in loving service, knowing that we have been perfectly loved by thee; through Jesus Christ our Lord. Amen.

Posted in Church History, Spirituality/Prayer

A prayer to begin the day from the ACNA Prayerbook

O God, because without you we are not able to please you, mercifully grant that your Holy Spirit may in all things direct and rule our hearts; through Jesus Christ our Lord, who lives and reigns with you and the Holy Spirit, one God, now and for ever.  Amen.

Posted in Spirituality/Prayer

(Church Times) Government to introduce Bill concerning right of Jewish and RC Prime Ministers to advise Crown on ecclesiastical appointments

The Prime Minister has pledged to change what he calls the “unacceptable” law that prohibits Roman Catholic and Jewish Prime Ministers from advising the Crown on ecclesiastical appointments.

In a statement to the House of Commons on Thursday of last week, Andy Burnham, who is the first Prime Minister to be a Roman Catholic on taking office (News, 4 September), said that the restrictions were an “antiquated and archaic anomaly”.

The “restrictions set out in the Roman Catholic Relief Act 1829 and the Jews Relief Act 1858 prevent persons professing the Roman Catholic and Jewish faiths only from advising the Sovereign on appointments to the Church of England and Church of Scotland”, he said.

As such, Mr Burnham had transferred his constitutional responsibility for advising the Sovereign on church appointments to the Lord Chancellor and Justice Secretary, Alex Norris.

Read it all.

Posted in England / UK, History, Law & Legal Issues, Politics in General, Religion & Culture

(BBC) MPs vote against fresh attempt to legalise assisted suicide

MPs have voted against proposals to legalise assisted dying in England and Wales, bringing the latest effort to change the law to an end.

Following a debate in which both sides made emotional speeches, the House of Commons voted 286 to 270 – a majority of 16 – against the proposed legislation.

The Terminally Ill Adults (End of Life) Bill would have allowed adults with fewer than six months to live to apply to be given help to end their own life, subject to certain safeguards.

A similar bill in the last parliamentary session was supported by MPs before stalling in the House of Lords. The decision from MPs on Friday rules out the prospect of changes to the law on assisted dying in the short term.

Read it all.

Posted in Aging / the Elderly, Anthropology, Death / Burial / Funerals, England / UK, Ethics / Moral Theology, Health & Medicine, Life Ethics, Pastoral Theology, Politics in General

(NYT) A.I. Queries From Abroad Raise Fears of a Biological Weapons Race

Among the growing fears about artificial intelligence, one threat has proved particularly alarming: the possibility that A.I. could be used to create a new wave of biological weapons.

In April, biosecurity experts warned that it was disturbingly easy to get advice from chatbots about making pathogens more dangerous. In June, scientists and A.I. executives signed an open letter calling for new controls on the fabrication of DNA because A.I. can now speed up the design of toxins and viruses.

In August, scientists reported that they had used A.I. to build viruses not seen in nature. And on Thursday, Anthropic announced that it had blocked several attempts to use its models by people who might have been trying to weaponize pathogens.

Dario Amodei, the chief executive of Anthropic, followed up with a call on Saturday to slow down the development of A.I., with a set of proposals to keep it safe.

Read it all.

Posted in Anthropology, Ethics / Moral Theology, Globalization, Science & Technology

(ACNA) The trial of Archbishop Wood concluded Friday, September 11, 2026

The trial of Archbishop Steven Wood concluded September 11, 2026, following five days of testimony from 38 witnesses. The Court expects the process of reviewing the transcript, receiving submissions, and deliberating could take up to 101 days, with an opinion due no later than December 21, 2026. The Court’s full statement is here.

Posted in Anglican Church in North America (ACNA)

Eleanor Parker–a fourteenth-century translation of the Crux Fidelis for the Feast of the Holy Cross

Today is the Feast of the Exaltation of the Cross (‘Holyrood day in harvest’, as it was sometimes called in the Middle Ages), so here’s a fourteenth-century translation of the Crux Fidelis, a verse of the sixth-century hymn Pange Lingua:

Steddefast Crosse, inmong alle other,
Thou art a tree mikel of prise;
In brawnche and flore swilk another
I ne wot non in wood no ris.
Swete be the nalis, and swete be the tree,
And sweter be the birdin that hangis upon thee.

That is:

Steadfast cross, among all others
Thou art a tree great of price;
In branch and flower such another
I know not of, in wood nor copse.
Sweet be the nails, and sweet be the tree,
And sweeter be the burden that hangs upon thee.

From the Latin:

Crux fidelis, inter omnes arbor una nobilis:
nulla silva talem profert,
fronde, flore, germine.
Dulce lignum, dulces clavos,
dulce pondus sustinet.

This verse is used in the liturgy several times through the course of the year, and at different seasons its poetry will resonate in subtly different ways. This tree is like no other, and it bears at once both flower and fruit; what kind of tree you picture as you sing this verse will depend on what your eyes are seeing in the world around you. The hymn is sung in the spring, on Good Friday and at the cross’ first feast in May, and at that time of year the image of a flowering tree evokes blossom and the spring of new life; and it’s sung again at this feast in the autumn, when trees are laden with fruit (their own ‘burden’), and the image instead speaks of fruitfulness, sustenance, the abundance of divine gift. 

Read it all.

Posted in Christology, Church History, Liturgy, Music, Worship

A prayer to begin the day from the Church of England

Almighty God,
who in the passion of your blessed Son
made an instrument of painful death
to be for us the means of life and peace:
grant us so to glory in the cross of Christ
that we may gladly suffer for his sake;
who is alive and reigns with you,
in the unity of the Holy Spirit,
one God, now and for ever.
Amen.

Posted in Spirituality/Prayer

A prayer to begin the day from the Church of England

God, who in generous mercy sent the Holy Spirit
upon your Church in the burning fire of your love:
grant that your people may be fervent
in the fellowship of the gospel
that, always abiding in you,
they may be found steadfast in faith and active in service;
through Jesus Christ your Son our Lord,
who is alive and reigns with you,
in the unity of the Holy Spirit,
one God, now and for ever.
Amen.

Posted in Church of England (CoE), Spirituality/Prayer

A prayer for the day from Brooke Foss Westcott (1825-1901)

O Lord, our heavenly Father, by Whose providence the duties of men are variously ordered: grant to us all such a spirit that we may labour heartily to do our work in our several stations, as serving one Master and looking for one reward.  Teach us to put to good account whatever talents Thou hast lent to us; help us to overcome all sloth and indolence; and enable us to redeem our time by zeal and patience; through Thy Son, our Saviour.     

–Frederick B. Macnutt, The prayer manual for private devotions or public use on divers occasions: Compiled from all sources ancient, medieval, and modern (A.R. Mowbray, 1951)

Posted in Church of England (CoE), CoE Bishops, Labor/Labor Unions/Labor Market, Spirituality/Prayer

Another absolutely must not miss video–BOATLIFT, An Untold Tale of 9/11 Resilience

Posted in America/U.S.A., History, Terrorism, Urban/City Life and Issues

Must not Miss 9/11 Video: Welles Crowther, The Man Behind the Red Bandana

The Man Behind the Red Bandana from Drew Gallagher on Vimeo.

Posted in America/U.S.A., Death / Burial / Funerals, History, Terrorism, Urban/City Life and Issues, Young Adults

Harry Ong Jr. on September 11th

From there:

I got up and turned on the TV, and there was just this big black hole in the World Trade Center. And there was just smoke billowing out of it. I called my sister Cathy I said, “You might wanna wake up, turn in your TV and take a look at what they’re showing.” The commentator’s saying that it’s an American Airlines plane. And I casually asked Cathy, I said, “Do you know where Betty is?” And she says, “Betty’s supposed to be flying out of Boston.” And I said, “Do you think Betty is on that plane?” We just didn’t know. So I left a phone call on her cellphone, just asking her when she’s landed or anywhere you’re on the ground, to just give us a call and tell us you’re okay. And there was no call from Betty. I called American Airlines, and it was only then that it was confirmed that Betty was on the flight.

I just want to add, through your passing, Betty, our family’s gotten very very close. Dad, who’s quite stoic, doesn’t really say a whole lot, man of the family, one day told us that he cries himself to sleep. Even to this day, he just keeps staying up watching TV, hoping somehow that you’ll reappear. And we’re all still waiting for that phone call from you to tell us that you’re okay. We just miss you a whole lot.

You may find the transcript of Betty Ong’s conversation reporting the hijacking from the American airlines plane here.

Posted in America/U.S.A., Death / Burial / Funerals, History, Marriage & Family, Terrorism, Urban/City Life and Issues

The Legacy Website for September 11, 2001

This site is intended as a place to remember and celebrate the lives of those lost on September 11, 2001. It includes Guest Books and profiles for each of those lost.

It is well worth your time to explore it thoroughly today.

Posted in America/U.S.A., Death / Burial / Funerals, History, Terrorism

Twenty-Five Years Later, we Remember 9/11

“The cloudless sky filled with coiling black smoke and a blizzard of paper—memos, photographs, stock transactions, insurance policies—which fluttered for miles on a gentle southeasterly breeze, across the East River into Brooklyn. Debris spewed onto the streets of lower Manhattan, which were already covered with bodies. Some of them had been exploded out of the building when the planes hit. A man walked out of the towers carrying someone else’s leg. Jumpers landed on several firemen, killing them instantly.

“The air pulsed with sirens as firehouses and police stations all over the city emptied, sending the rescuers, many of them to their deaths. [FBI agent] Steve Bongardt was running toward the towers, against a stream of people racing in the opposite direction. He heard the boom of the second collision. “There’s a second plane,” someone cried.”

–Lawrence Wright, The Looming Tower: Al-Qaeda and the Road to 9/11 (New York: Random House [Vintage Books], 2006), pp.404-405

Posted in America/U.S.A., Death / Burial / Funerals, History, Terrorism, Urban/City Life and Issues

A prayer for 9/11 by yours truly

Almighty God and Father who wills that all people may flourish and have abundance of life, be with us especially on this day when we remember such destruction, darkness, devastation, death and terror; help us to honor the memory of those whose lives were utterly cut short, and to believe that you can make all things new, even the most horrible things. Redeem and heal, O Holy Spirit, grant us perspective, humility, light, trust and grace, through Jesus Christ our Lord. Amen.

Posted in * By Kendall, America/U.S.A., Death / Burial / Funerals, History, Terrorism, Urban/City Life and Issues

A Prayer for the Feast Day of Harry Thacker Burleigh

God, our strong deliverer: We bless thy Name for the grace given to Harry Thacker Burleigh, who didst lift up in song the struggles of thy people. Let that Spirit of love which spurred him draw us and thy whole Church to raise our distinct voices into one great harmony of praise; through the same Jesus Christ, who with thee and the Holy Spirit liveth and reigneth, one God, now and for ever. Amen.

Posted in Church History, Liturgy, Music, Worship, Spirituality/Prayer

A prayer for the day from the Pastor’s Prayebook

O Lord our God, Who hast chased the slumber from our eyes, and once more assembled us to lift up our hands unto Thee and to praise Thy just judgments, accept our prayers and supplications, and give us faith and love.  Bless our coming in and our going out, our thoughts, words, and works, and let us begin this day with the praise of the unspeakable sweetness of Thy mercy.  Hallowed be Thy name.  Thy kingdom come; through Jesus Christ our Lord.

–Robert W. Rodenmayer, ed., The Pastor’s Prayerbook: Selected and arranged for various occasions (New York: Oxford University Press, 1960)

Posted in Spirituality/Prayer

(FT) Top US official named to OpenAI non-profit board warns advanced AI could be ‘deadly’

OpenAI has appointed to its foundation’s board a senior US government official who warned that advanced versions of AI could kill “most people” without more robust safeguards.

Paul Christiano, who tests model safety at the commerce department’s Center for AI Standards and Innovation, said on X on Wednesday that the risk of losing control over AI systems “is now acute” and requires more work to align with human interests.

“If we build superintelligence without more robust alignment, I expect we will permanently lose control of it,” he said when announcing his new role at OpenAI. “If that happens then most people could die. I believe we would need domestic and international co-ordination to ensure global consistency and reduce risk to an acceptable level.”

Christiano previously led AI safety at Caisi. He designed and ran government tests on frontier AI models from leading companies and assessed them for national security risks.

Read it all.

Posted in Science & Technology

(PD) Robert Carle–The Unravelling of The American Employment Compact 

In 1888, George Eastman marketed the Kodak camera with the memorable advertising promise: “You press the button, we do the rest.” Photography, a complicated task requiring considerable technical knowledge, suddenly became accessible to ordinary consumers.  

Eastman created a company that became an early practitioner of welfare capitalism. Eastman issued weekly paychecks and distributed bonuses and profit-sharing payments. In 1919, Eastman gave employees one-third of his personal holdings in Kodak stock, then worth $10 million. The firm later established retirement annuities, life insurance, and disability benefits. Eastman believed that the goodwill and loyalty of employees were important sources of Kodak’s prosperity.  

After World War II, major American firms adopted the Kodak model of investing in their employees. In The End of Loyalty, former Wall Street Journal reporter Rick Wartzman describes the 1940s and 1950s as a working-class golden age in which firms such as General Motors, General Electric, Procter & Gamble, and Coca-Cola felt obligated to “lend a helping hand to workers” and to “shield them against the vicissitudes of life.”    

Paul Osterman’s important new book, Disposable Workers: The Transformation of Employment, describes how thoroughly that model has eroded.  

Read it all.

Posted in Anthropology, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market

As the Archbishop of ACNA steve Wood undergoes his trial, a reminder from his own diocese of the charges and process involved

 What is happening?

On October 23, 2025, The Washington Post reported that Archbishop Steve Wood, leader of the Anglican Church in North America (ACNA), is the subject of a formal presentment—a canonical complaint alleging sexual misconduct and other violations of church canons.

Summary of Allegations

  • The presentment, filed October 20, 2025, centers on claims by Claire Buxton, a former children’s ministry director at St. Andrew’s Church in Mount Pleasant, South Carolina.
  • Buxton alleges that between 2021 and 2024, Wood made inappropriate comments and gestures toward her, culminating in an unwanted advance in April 2024, when he allegedly attempted to kiss her.
  • She also reported receiving about $3,500 in unsolicited payments from church funds over a 13-month period.
  • Additional accusations in the presentment include plagiarized sermons, bullying of staff, and misuse of church resources.
  • On November 7, 2025, The Washington Post reported that a second woman had come forward with allegations of sexual harassment, and the presentment was amended to include her affidavit and additional testimony from former colleagues.

Wood has stated he believes the allegations “lack merit” and has expressed trust in the ACNA’s canonical process.

2. What is the ACNA doing about it?

Upon receiving the presentment, ACNA initiated its disciplinary process, referring the case to a Board of Inquiry to determine whether an ecclesiastical trial is warranted.

November 4, 2025, the ACNA reported that Archbishop Wood took a voluntary, paid leave of absence from his roles as Archbishop and Bishop of the Carolinas. Bishop Ray Sutton, Dean of the Province, was appointed to oversee the Archbishop’s duties during the investigation. To help ensure objectivity in the proceedings, Bishop Sutton formally recused himself from all matters pertaining to Archbishop Wood’s Board of Inquiry and any subsequent disciplinary process, according to the ACNA.

Bishop Sutton appointed Bishop Julian Dobbs, who is serving as Dean of Provincial Affairs, to form a three-member panel of bishops to represent Bishop Sutton in any action he may be required to take in the disciplinary process against Archbishop Wood. This newly formed panel will review and approve the composition of the Board of Inquiry (BOI) to ensure its impartiality, and receive its report.

Wood also announced his retirement as rector of St. Andrew’s, describing it as previously planned.

November 16, 2025, Bishop Julian Dobbs, with the written consent of the five senior diocesan bishops of the College, determined by date of admission, Bishop Julian Dobbs inhibited Archbishop Stephen D. Wood from the exercise or ordained ministry in the Anglican Church in North America, in accordance with the canons of our Church. This inhibition does not determine guilt or innocence, nor does it pre-judge any allegation or any step that may follow. The canons provide for the imposition of an inhibition when it is determined to be in the best interests of the Church to do so. The inhibition document may be found here: [link to inhibition document].

As stipulated in the Constitution of the Anglican Diocese of the Carolinas, Bishop David Bryan, as Bishop Suffragan, is now assuming the duties of Acting Bishop of the Diocese of the Carolinas for the duration of this period.

The ACNA has emphasized that Archbishop Wood is accountable to the same canonical standards and disciplinary process as any other leader accused of misconduct.

Read it all.

Posted in * South Carolina, Anglican Church in North America (ACNA), Ethics / Moral Theology, Ministry of the Ordained, Parish Ministry, Pastoral Theology

A recent Kendall Harmon Sermon–Are we good witnesses of and for our Lord?

You may listen directly here:“>

Or you may download it there.

Or you may watch it there:

(starts about 11:30 in).

Posted in * Anglican - Episcopal, * By Kendall, * South Carolina, Evangelism and Church Growth, Ministry of the Ordained, Parish Ministry, Preaching / Homiletics, Sermons & Teachings

A Prayer for the Feast Day of Alexander Crummell (1819-1898)

Almighty and everlasting God, we thank thee for thy servant Alexander Crummell, whom thou didst call to preach the Gospel to those who were far off and to those who were near. Raise up, we beseech thee, in this and every land evangelists and heralds of thy kingdom, that thy Church may proclaim the unsearchable riches of our Savior Jesus Christ, who liveth and reigneth with thee and the Holy Spirit, one God, now and for ever.

Posted in Church History, Liberia

A prayer for the day from the ACNA prayerbook

O Lord God, grant your people grace to withstand the temptations of the world, the flesh, and the devil, and with pure hearts and minds to follow you, the only God; through Jesus Christ our Lord, who lives and reigns with you and the Holy Spirit, one God, now and for ever.  Amen.

Posted in Spirituality/Prayer

(VOL) The Steve Wood Trial Has Begun

CHARLESTON, SC — At long last Archbishop Steve Wood goes to trial for allegations that could derail his future hopes and aspirations and lead to a future of ignominy and shame. Exonerated, he will go back to leading a denomination struggling over the ordination of women and distrust by a growing number of laity disillusioned by his leadership. He faces a split among his fractious military chaplains, unresolved lawsuits and much more. 

No archbishop of the Anglican Church in North America has ever stood in the dock of his own church. Wood is the first. The denomination that was born in 2009 out of a flight from the Episcopal Church — a flight undertaken in the name of holiness, orthodoxy, and the plain reading of Scripture — now finds itself asking whether it can hold its own primate to the standard it once demanded of Canterbury. That is the real question the six-day trial in Charleston will answer, and it is far larger than the fate of one man. 

The court will not make it easy to watch. The proceedings, seated September 7 through 12 with extension dates reserved for September 21 through 26, are closed to the public. The Court for the Trial of a Bishop, presided over by the Rt. Rev. Ryan Reed, has given each side fifteen hours — no more — to lay out its case, examine and cross-examine witnesses, and argue before the bench. 

The Charges

Wood answers three formal charges: violation of his ordination vows; conduct giving just cause for scandal or offense, including the abuse of ecclesiastical power; and sexual immorality. They are among the gravest a bishop can face, and they carry, on conviction, the prospect of deposition. 

The Allegations

Behind the three charges lies a presentment that ranges wider still.

The case broke into public view in October 2025, when The Washington Post reported that Wood had been accused of sexual harassment during his long tenure as rector of St. Andrew’s Church in Mount Pleasant, South Carolina — the flagship parish he built over twenty-five years and the platform from which he rose to the archbishopric. Claire Buxton, a divorced mother of three who served as the parish’s children’s ministry director, alleges that Wood began behaving inappropriately toward her in the fall of 2021, showered her with attention and with money — more than three thousand dollars, she says, drawn from church funds — called her by a pet name, and, in April 2024, attempted to kiss her in his office. 

A presentment — the canonical instrument by which charges are brought — was filed that same month by a group of Wood’s former colleagues, among them four presbyters and seven lay people. It carried not only Buxton’s account but allegations that Wood bullied his staff and plagiarized sermons. In November it was resubmitted to add the account of a second woman, who said Wood had pressured her into situations that made her uncomfortable and had invited her to drink with him, and to add the claim of the province’s former communications director that Wood had conspired with other senior leaders to tilt the church’s investigative machinery in a “bishop-friendly” direction. 

Wood has denied the allegations, declining to comment on the most recent.

Read it all.

Posted in * South Carolina, Anglican Church in North America (ACNA), Ethics / Moral Theology, Ministry of the Ordained, Pastoral Theology

(RNS) Church trial of Anglican Archbishop Steve Wood, accused of sexual misconduct, began Monday

The Archbishop of the Anglican Church in North America, Steve Wood, will face a church trial starting on Monday (Sept. 7). It’s the young denomination’s first trial of a sitting archbishop.

He faces three charges: violation of ordination vows, abuse of church power and sexual immorality.

“Our young Province finds itself in a challenging and uncomfortable season,” Julian Dobbs, who has taken over the archbishop’s duties, wrote in an email to the denomination on Tuesday. “Our unity, fervor, and faith are surely being tested.”

Read it all.

Posted in * South Carolina, Anglican Church in North America (ACNA), Ethics / Moral Theology, Ministry of the Ordained, Parish Ministry, Pastoral Theology, Stewardship

(NYT) A New Hacking Tool Built With A.I. Can Breach Phones Without a Click

A friend you haven’t heard from in a while suddenly calls. You don’t pick up, but in a matter of seconds, the damage is already done.

The call wasn’t actually from an old companion looking to reconnect, but from a hacker who had hijacked that number. Worse, the assailant now secretly has control over your account, including access to your private messages, and is already using your number to reach your saved contacts and compromise them, too.

Like a raging, highly contagious virus, the attack keeps spreading. Within hours, millions of people have suffered the same fate.

A year ago, such a cyberattack might have sounded far-fetched to even the most paranoid digital experts, or at least like something only the world’s most elite spy agencies could have pulled off.

Read it all.

Posted in Science & Technology

(Economist Leader) Nvidia is driving the AI boom. Good

Nvidia was  named in 1993 after the Latin word for envy. Sure enough, the American colossus inspires plenty of it. Insatiable global demand for its graphics-processing units (GPUs), the chips that power artificial intelligence, has made Nvidia the world’s most valuable company, worth $5.4trn. Next year it may also become the most profitable, generating $370bn in net income. By 2029 its sales could hit $1trn.

Jensen Huang, Nvidia’s boss, is truly the magician at the heart of the AI boom. His firm’s share price is 14 times what it was on ChatGPT’s release in late 2022. The ten biggest public companies championing AI make up 40% of the value of the S&P 500 index. Nvidia alone accounts for 8% and unlike, say, Apple or Tesla, which make smartphones and cars, it is almost solely a bet on AI. The company has produced about 15 cents of every dollar the American stock market has returned since 2023—returns that have kept consumers spending despite rising interest rates, tariffs and a war with Iran.

Yet many also see Mr Huang as a magician in a more worrying sense, fearing that he is an illusionist inflating a dangerous bubble. Through $1trn-worth of deals, Nvidia provides data-centre landlords and AI labs with cash or guarantees so that they can buy its GPUs. Some call it the “bank of AI”. At the very least, Nvidia’s critics say, its financial engineering smacks of the “vendor financing” which pumped up the revenues of networking-gear makers like Cisco in the dotcom mania of 2000-01, whose collapse brought about a recession.

Look more closely, however, and the worries are mostly unjustified. If Nvidia’s bets on ai come good, they could accelerate the technology’s adoption, boosting productivity and living standards. If they misfire, the cost will fall chiefly on Nvidia’s shareholders. That is how capitalism is supposed to work.

Read it all.

Posted in * Economics, Politics, Corporations/Corporate Life, Economy, Science & Technology