Notes in the Margin
New-Home Sales Dip in July as Homebuilders Struggle To Entice Reluctant Buyers
The median sales price of new houses sold in July was $403,800, down 5.9% from a year earlier and the lowest price since November 2024.
Full text of Jerome Powell’s Jackson Hole speech
Rate cut to "stimulate" jobs? Powell: "while the labor market appears to be in balance, it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers."
Israel’s Man Inside the CIA Betrayed the US, New Files Show
The files provide a fresh and often disturbing look at a spy described by historian Jefferson Morley as “a leading architect of America’s strategic relationship with Israel.”
Go Ahead and Rage at Boomers, But the Problem Is the Entire Economic Order
Our corrupt economic system was created by people born decades before the Boomers were adults. The boomers just got lucky in a system that created vast wealth inequality.
Trump White House takes a $10B stake in Intel
The very definition of socialism: government ownership of the means of production. The US federal government now owns 10% of intel.
FBI searches home and office of ex-Trump national security adviser John Bolton
Bolton is a leading cheerleader for the modern American surveillance state and for endless intervention abroad.
Powell signals that the Fed is ready for rate cuts
Powell caves to administration pressure and predicts rate cuts. Meanwhile, asset prices soar on the news of more inflation.
