“At 6:49 a.m. on Monday, March 23, the oil futures market was quiet. Pre-dawn Mondays are always quiet. There was no scheduled data release, no Federal Reserve speech, no obvious catalyst for any significant market activity. Then, in the span of 27 seconds, roughly 6,200 Brent and West Texas Intermediate futures contracts were sold — a notional value of approximately $580 million …. Simultaneously, approximately 6,000 S&P 500 e-Mini futures contracts were purchased, representing more than $2 billion in notional value. Sell oil. Buy stocks. A perfectly paired bet that would only make sense if you knew — if you were certain — that the geopolitical picture was about to improve dramatically. At 7:05 a.m., sixteen minutes later, President Donald Trump posted on Truth Social that the United States and Iran had been engaged in ‘productive conversations’ to end the war.” (05/11/26)
“Many of the Trump crew seem to be delusional about Trump accounts. They claim to believe that they will replace Social Security. It shouldn’t be a surprise to us that many supporters of Trump are out of touch with reality, but that is not a reason for the rest of us to take their nonsense seriously. Let’s keep our eyes on the ball. This is not 3-dimensional chess; it is an account for newborn kids in which the government deposits $1,000.” (05/11/26)
“British Prime Minister Keir Starmer defied calls to resign on Tuesday, telling ministers he would ‘get on with governing’ despite a ‘destabilizing’ 48 hours of growing calls to set out a timetable for his departure after an election drubbing. At a meeting of his cabinet team of ministers, Starmer, in the top job for less than two years, repeated that while he took responsibility for one of his Labour Party’s worst election defeats, there had been no official move to trigger a leadership contest. … Starmer’s defiance was in marked contrast to the feelings of many in his Labour Party. On Tuesday, a junior minister resigned after a handful of ministerial aides also left the government. Housing, communities and local government minister Miatta Fahnbulleh stepped down and urged Starmer ‘to do the right thing for the country.'” (05/11/26)
“Over the past decade, Europe has played a leading role in shaping global climate policy, highlighted by the launch of the European Green Deal in 2019 — Ursula von der Leyen described it as a ‘man on the moon moment.’ The initiative aims to make Europe the world’s first climate-neutral continent by 2050 while fostering innovation and strengthening its industrial base. Yet several years later, the results are deeply disappointing. Instead of meeting its goals, the Green Deal is increasingly associated with higher energy costs, weakened competitiveness, and growing political backlash.” (05/11/26)
“At first glance, the Trump administration’s decision to withdraw two battalions from Germany and cancel the planned deployment of intermediate-range ground-launched missiles there looks like a win for those who favor reducing America’s overseas military presence or prioritizing the Indo-Pacific over Europe. But how the United States retrenches and refocuses its foreign policy ambitions matters enormously. And the way this announcement was handled could ultimately prove to be a setback for both so-called ‘restrainers’ and ‘prioritizers’ as they seek to reshape U.S. foreign policy strategy.” (05/11/26)
“eBay on Tuesday rejected GameStop’s $56 billion takeover proposal, calling the unsolicited bid ‘neither credible nor attractive.’ GameStop CEO Ryan Cohen last week unveiled an audacious bid for eBay, offering to acquire the online marketplace for $125 per share in a cash-and-stock deal. eBay is much larger than the video game retailer, with a market cap of just over $48 billion, while GameStop’s is roughly $10.3 billion. … Many Wall Street analysts threw cold water on the deal, citing a lack of meaningful synergies between the two companies. ” (05/11/26)
“I’ve just read a deeply fascinating and provocative book that affirms something I’ve been trying to articulate for three decades! So, join me today as I explore David Crystal’s The Fight For English and discover what the glorious anarchy of language has to teach us about the beautiful spontaneous order that defines our daily existence.” (05/11/26)
