“A four-tonne piece of a discarded SpaceX rocket that has been floating in space since last year is believed to have unintentionally crashed into the moon at high speed, in a collision that poses no danger to Earth but was expected to blast out a new lunar crater. The object, the size of a building, is part of the SpaceX Falcon 9 rocket that had launched a lunar lander from the US company Firefly Aerospace toward the moon in January 2025. The rocket body was due to hit the moon about 6.35am BST, crashing into its surface at 5,400mph (8,690 km/h). The impact was predicted to kick up a miles-long plume of lunar dust that, while illuminated by sunlight, would be difficult to spot with the naked eye from Earth.” (08/05/26)
“The Articles of Confederation are often remembered as a failure. But their limits on taxing and commercial power offered greater protection for economic freedom than the Constitution that replaced them.” (08/04/26)
“The U.S. Army has used up much of its stockpile of highly accurate long-range missiles during its five-month war with Iran, according to three people familiar with the data, raising concerns about the military’s readiness for future conflicts. The missiles are principally the Army’s surface-to-surface weapons, known as Army Tactical Missile Systems (ATACMS) and Precision Strike Missiles (PrSM). The U.S. has used ‘virtually all’ of these weapons, according to two of the sources. … The dramatic rundown in precision, long-range missiles means U.S. President Donald Trump may have to rely more on riskier, piloted bombing missions if he relaunches large-scale attacks on Iran.” (08/04/26)
“Economics has a small stock of principles that a first-year student can recite and a Cabinet minister can forget within the hour. Incentives matter; Taxes change behaviour; Prices are signals. These are not obscure theorems. They are closer to proverbs, the kind of thing an intelligent teenager grasps within an afternoon. Yet politicians who could tell you the exact yield on a ten-year gilt will propose a policy that assumes people respond to subsidies but not to taxes, or that a price can be fixed by decree without anyone noticing. The puzzle is not that people are stupid. Despite obvious counter-examples, few politicians are. The puzzle is that intelligence and economic literacy are almost unrelated skills, and the political process actively selects against the second.” (08/04/26)
“U.S. job openings fell slightly in June, but the labor market continued to show resilience in the face of an economic shock from fighting in Iran and the closure of the Strait of Hormuz. The Labor Department said that employers posted 7.36 million vacancies in June, down from 7.54 million in May. The numbers were in line with economists’ expectations. Layoffs were little-changed at 1.8 million, and the number of people quitting their jobs — a sign of confidence in their prospects — rose slightly. The U.S. job market has remained sturdy despite a surge in energy prices caused by the conflict in Iran, rebounding from a 2025 slump.” (08/04/26)
“After a stinging but widely expected loss at the U.S. Supreme Court, President Trump pressed his enablers to search, once again, for some law he could use to justify imposing new tariff rates on dozens of countries, both friends and foes alike. Yet no Trump policy has been a bigger economic and political failure than his tariffs, alienating other countries, harming U.S. businesses and, most importantly, enraging American voters.” (08/04/26)
“Sen. Darline Graham (R-S.C.) on Monday broke with her brother, the late Sen. Lindsey Graham (R-S.C.), over abolishing the filibuster three weeks after stepping in to finish the rest of his term. … ]This is where I differ from my brother, getting rid of the filibuster to get this done. Because eventually the Democrats are going to get rid of it anyway,’ she added, in reference to how Republicans should handle passing legislation to change voter registration requirements. Earlier this year, Lindsey Graham said lawmakers could consider nuking the filibuster in the future but warned against it in the short term.” (08/04/26)
“The ideological tolerance gap on campus is shrinking, but not because students are becoming more open-minded. Rather, it appears they are becoming less tolerant across the board.” (08/05/26)
“Eric Peters from Eric Peters Autos joins me for our weekly debrief. No matter how crazy things may get or how ridiculous the things we’re expected to believe, we always have options.” (08/04/26)
