Economy
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Fervo Energy: Earth’s Heat and their Wall Street’s Bet
Three weeks after its Nasdaq debut, Fervo Energy (FRVO) sits in an uncomfortable and fascinating place: a company that has genuinely revolutionised one of the oldest energy sources on earth, trading at a valuation that prices in a revolution that is still mostly on paper. That tension — between proven technology and unproven scale — defines the entire investment case.
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The Price of Protection: How America’s Tariff Gamble Is Rewriting the Rules of the Global Economy
From “Liberation Day” to the Supreme Court’s verdict, 16 months of escalating trade war have raised prices for 340 million Americans, fractured global supply chains, and forced institutions from the IMF to the Federal Reserve to confront an uncomfortable truth: tariffs tax the people they claim to protect.
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America’s $39 Trillion Reckoning: Could the World’s Largest Economy Become the Next Greece?
US public debt crossed 100% of GDP in May 2026 — a threshold not breached outside a genuine crisis since World War II. Every major credit rating agency has now stripped America of its top-tier rating. The Congressional Budget Office projects debt reaching 175% of GDP by 2056. This is a deep investigation into what the numbers actually mean, who is warning loudest, and whether Washington can still escape the spiral that swallowed Athens.
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The $7.6 Trillion Question: Can AI Companies Ever Actually Make Money?
Hundreds of billions in capital flow into artificial intelligence every year. The companies at its centre bleed cash at a rate with no historical precedent. Goldman Sachs finds zero contribution to US GDP. And a growing chorus of economists is asking whether the entire edifice rests on nothing more substantial than collective hallucination.
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The Warsh Doctrine: Inside the World’s Most Consequential New Job
Kevin Warsh is sworn in as the 17th Federal Reserve Chair. He inherits a central bank under political siege, an inflation rate running twice the target, and a president who wants rates at 1%. The slow-burn reckoning begins now.