Money, Wealth & Power—A Daily Look at the Financial World
Bitcoin’s latest plunge has ripped through the mining industry so violently that operators are literally powering down machines that only months ago were printing money. With the coin trading far below its recent peak and mining economics collapsing to record lows, the sector that secures the network is suddenly confronting a brutal test of who…
Artificial intelligence was supposed to be the lubricant of a new financial era, speeding credit decisions and powering an unprecedented investment boom. Instead, it is exposing a fragile web of off‑balance‑sheet lenders whose bets on the AI gold rush are starting to look dangerously pro‑cyclical. As billions in paper value evaporate from these “shadow banks”,…
Warnings that American farming is nearing a breaking point have moved from coffee-shop talk to the halls of Washington. A group of former officials and commodity leaders is now openly talking about a potential “collapse of American agriculture” as producers struggle with rising costs, weaker prices, and policy uncertainty. Their alarm highlights a deeper question…
President Donald Trump is seeking at least $10 billion from the federal government in a lawsuit over the leak of his tax returns, a demand that would be financed by the very taxpayers whose information the Internal Revenue Service is supposed to protect. The case turns a personal grievance into a massive public liability, raising…
President Donald Trump used a high-profile NBC interview to signal that he sees interest rate cuts as all but inevitable, framing easier money as both an economic necessity and a political expectation. His comments, delivered as he promotes Kevin Warsh to lead the Federal Reserve, sharpen the tension between the White House’s growth agenda and…
The United States is heading into what its top economic officials describe as a powerful upswing, yet the person in charge of the Treasury is issuing a blunt warning to workers. Scott Bessent is promising tax relief and a “bountiful” 2026, but he is equally clear that anyone who wants to thrive in that environment…
Michael Burry is once again training his sights on a crowded trade, warning that the latest Bitcoin slide could morph into a self‑reinforcing collapse for MicroStrategy and listed miners. His argument is blunt: if the flagship cryptocurrency keeps falling, the companies that used it as a leveraged treasury bet could find themselves trapped in a…
Bitcoin’s latest selloff has not only rattled crypto markets, it has also erased the entire rally that followed Donald Trump’s election victory. The token has slid back to levels last seen in the immediate aftermath of that political shock, wiping out what traders had dubbed the “Trump bump” and forcing investors to confront how fragile…
In a matter of hours, a shouted insult on a factory floor turned a little-known Ford line worker into the focus of a national political storm and a crowdfunding windfall. TJ Sabula’s clash with President Trump at a Michigan plant cost him his paycheck, at least temporarily, but it also sent GoFundMe donations soaring toward…
Russia’s oil and gas takings have slumped to their weakest level since the early pandemic shock of 2020, stripping the Kremlin of the easy money that once underwrote both domestic spending and the war in Ukraine. The fall reflects a mix of lower global prices, widening discounts on Russian barrels and the slow grind of…