Perspectives

Nvidia Delivery Wasn’t Enough, Fed Cuts By Year 2026 Ticking Higher Nvidia’s earnings report didn’t raise any red flags; in fact, it was expected to help ease concerns about the broader A.I. capex cycle. The market’s reversal last week seemed driven by factors beyond A.I. alone. It’s also worth noting that Fed rate-cut odds have started to tick higher again. Despite the ongoing commentary from Fed officials about lingering inflation risks, there are not many signs of seeing that infla… View More

A relatively new term was bandied about during and after the off-year elections held two weeks ago that the chattering classes deemed critical in determining the outcome – “affordability”. The thesaurus function built into the Word program in which this essay found no synonyms for affordability. Still, taking a stab at it and say that it is a euphemism for inflation. It’s hard to know, of course, but it seems reasonable to assume that the cost of everyday items has become an increasingly… View More

It was, and remains, fashionable in some quarters abroad and even here at home, to question the concept of American exceptionalism after the 2024 election. Naturally, some of those feelings were driven more by the man who won the contest rather than a dispassionate understanding of what has made America so special and unique since its founding. European intellectuals often see America’s patriotism and success as attributable to luck or some cosmic accident that would be impossible to reproduce… View More

AI Spending Concerns Addressed: Increased Funding Needed Recent concerns regarding a potential slowdown or halt in the AI capital expenditure (capex) cycle have largely been alleviated, at least for the upcoming quarter. Many of the largest spenders have either projected higher capex for next year or indicated an increase in spending. However, it is important to note that not all spending appears equal; Meta’s recent sell-off serves as a prime example. Companies will need to demonstrate tangi… View More