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Category Archives: Economy

The Donald Trump Interview Transcript

Bloomberg – Full text, fact-checked – unpaywalled – “Bloomberg Businessweek interviewed former US President Donald Trump at his golf club, Mar-a-Lago in Palm Beach, Florida, on June 25, two days before the first 2024 presidential debate and about two weeks before a failed assassination attempt. In a discussion focused on business and the global economy, Trump talked about the Federal Reserve, inflation, tax cuts, tariffs, Taiwan and his relationships with chief executives. The interview was conducted by Bloomberg Senior Reporters Nancy Cook and Joshua Green, Managing Editor Mario Parker and Businessweek Editor Brad Stone. Below is a transcript of the conversation, lightly edited for clarity, and annotated with several fact-checks by Gregory Korte.”

Goldman Sachs: AI Is Overhyped, Wildly Expensive, and Unreliable

404 Media, July 14, 2024. Goldman Sachs: AI Is Overhyped, Wildly Expensive, and Unreliable. “Investment giant Goldman Sachs published a research paper about the economic viability of generative AI which notes that there is “little to show for” the huge amount of spending on generative AI infrastructure and questions “whether this large spend will ever… Continue Reading

AI In Finance and Banking – July 15, 2024

AI In Finance and Banking – July 15, 2024 – This semi-monthly column by Sabrina I. Pacifici highlights news, government documents, papers by NGO/IGO organizations and economists, speeches, and industry white papers on the subject of AI’s fast paced impact on the banking and finance sectors. The chronological links provided are to the primary sources,… Continue Reading

The World’s Power Grids Are Failing as the Planet Warms

Bloomberg [unpaywalled] – Outages from Albania to Texas show how electricity networks aren’t ready for climate change. “…The climate crisis exposes electricity networks to flash floods ripping down transmission towers, droughts drying up hydro reservoirs and demand spikes from cooling during searing heat. “The whole power system was built and designed in one climatic era… Continue Reading

(Almost) 200 Years of News-Based Economic Sentiment

(Almost) 200 Years of News-Based Economic Sentiment Jules H. van Binsbergen, Svetlana Bryzgalova, Mayukh Mukhopadhyay & Varun Sharma – Working Paper 32026. DOI 10.3386/w32026  Issue Date January 2024. “Using text from 200 million pages of 13,000 US local newspapers and machine learning methods, we construct a 170-year-long measure of economic sentiment at the country and state… Continue Reading

Follow the Crypto

“The cryptocurrency industry has been throwing money into politics unlike ever before, and that’s even after political donations from the industry skyrocketed in the 2022 election cycle. Despite the relatively small size of the industry, it has become one of the biggest spenders in the upcoming elections in the United States. Cryptocurrency companies have raised… Continue Reading

Everyone Has A Price And Corporations Know Yours

The Lever – “Digital surveillance and customer isolation are locking us into a consumer hell of personalized prices.  Six years ago, I was at a conference at the University of Chicago, the intellectual heart of corporate-friendly capitalism, when my eyes found the cover of the Chicago Booth Review, the business school’s flagship publication. “Are You… Continue Reading

New map gives horror glimpse at world’s climate in 60 years

Express UK: “As Britons experience a cold, rainy summer, experts are urging them to appreciate the milder conditions while they can. A new interactive map developed by scientists from the University of Maryland offers a glimpse into a much hotter future, predicting drastic changes in climate for cities worldwide within the next 60 years. According… Continue Reading

Private-Sector AI Indicators Dataset

DataIsPlural: “The Private-Sector AI Indicators dataset, from Georgetown University’s Emerging Technology Observatory, provides “a diverse range of indicators of AI-related activity for hundreds of companies worldwide, from startups to multinationals.” For each of the 670+ companies included, the dataset counts the number of AI-related research articles published by its employees (disaggregated by topic), AI-related patents… Continue Reading

Home Insurance Rates in America Are Wildly Distorted. Here’s Why.

The New York Times [unpaywalled]: “Enid, Okla., surrounded by farms about 90 minutes north of Oklahoma City, has an unwelcome distinction: Home insurance is more expensive, relative to home values, than almost anywhere else in the country. Enid is hardly the American community that is most vulnerable to damaging weather. Yet as a share of… Continue Reading

Future of Professionals Report

Thomson Reuters – Future of Professionals Report. AI-powered technology & the forces shaping professional work. July 2024. “Key findings – First, the productivity benefits we have been promised are now becoming more apparent. As AI adoption has become widespread, professionals can more tangibly tell us about how they will use this transformative technology and the… Continue Reading