Author: Thomas L. Knapp

China’s AI Bubble Burst: Will This be Another Export to the United States?

Source: CounterPunch
by Dean Baker

“It seems to have gotten relatively little attention here, but China’s AI stocks have taken a sharp dive over the last four months. Reuters put the plunge at 40% in the STAR50 index, which includes most of the country’s AI and tech-related companies. The article said this drop corresponded to a loss of $480 billion in market wealth. There are several important points about this plunge that should provide lessons for investors in the United States. The first and most obvious lesson is that sharp plunges in stock prices like this can happen. That shouldn’t really be news. … Another striking point about China’s crash is how little money is involved. None of us will ever see $480 billion, but this sum is trivial compared to the sums in play with the U.S. AI and tech companies.” (11/03/26)

https://www.counterpunch.org/2026/11/03/chinas-ai-bubble-burst-will-this-be-another-export-to-the-united-states/

Thomas L. Knapp

Spain: Police Clear Remaining Housing Protesters From Madrid Encampment

Source: US News & World Report

“Spanish police removed remaining protesters ⁠and ⁠tents from Madrid’s main square ⁠early on Tuesday, officials said, after most of the people ​demonstrating against soaring rents, home shortages and evictions had already left voluntarily. The pre-dawn operation ended ‌a five-week encampment in the Puerta ‌del Sol square that had become a symbol of Spain’s housing crisis and ⁠contributed to ⁠Prime Minister Pedro Sanchez’s decision to call a snap general election for ​November 29. The protests were sparked by the eviction of an 87-year-old woman, who later died, with marches called by tenants’ unions held across Spain.” (11/03/26)

https://www.usnews.com/news/world/articles/2026-11-03/spanish-police-clear-remaining-housing-protesters-from-madrid-encampment

Thomas L. Knapp

Genes, Guesses and Going Concerns

Source: Adam Smith Institute
by Madsen Pirie

“Biological evolution, scientific progress and the market economy run on the same engine. Something new is tried. Most attempts fail. The few that survive are kept and built upon. Genes, theories and businesses all advance this way, by trial and the elimination of error. The obvious objection is that nature is random while science and commerce are purposive. Mutations happen by accident. Scientists and entrepreneurs act by design. Surely that changes everything? It changes less than it seems. What is random in nature is the variation, not the selection.” (11/03/26)

https://www.adamsmith.org/blog/genes-guesses-and-going-concerns

Thomas L. Knapp

Pete Hegseth must answer for his record and face the consequences

Source: Los Angeles Times
by Jon Duffy

“Defense Secretary Pete Hegseth may be looking for his next job. According to Puck, senators are discussing Hegseth’s interest in an appointment to Marsha Blackburn’s seat if she wins Tuesday’s election to become Tennessee governor. The prospect comes as lawmakers prepare to pursue Hegseth’s impeachment over his conduct in office. The Pentagon has dismissed the reporting as gossip and insists Hegseth’s priority remains leading the department. Whether he stays or goes, Congress must require him to answer for his record.” (11/03/26)

https://archive.is/Lgh7I

Thomas L. Knapp