Prashant Rao
54 article(s) here · 1 carrying a prediction
🔮 Goldman Sachs economists warned that elevated yields could cut US GDP growth by 0.2 percentage points next year, threaten the stock boom, and force the government to prioritize deficit reduction.
🔮 The urgency of their push comes as major European companies undergo huge job losses — Volkswagen plans to cut 100,000 workers — which experts have said could drive political upheaval.
🔮 Writing in the Financial Times, one of the so-called godfathers of AI argued that it “should be approached like other critical technologies including medicine, aviation, and nuclear energy,” while the UN rights chief warned that unchecked AI development could let “dystopia creep in unnoticed” by undermining equality, freedom, and privacy.
🔮 Germany and Spain face their own political turmoil: The former is in deadlock over tax proposals that, alongside a string of election embarrassments, threaten the governing coalition and could lead to the chancellor being ousted; the latter will hold snap elections after a key housing law failed in parliament.
🔮 Economists were also worried about French levels of borrowing, with Paris set to unveil a draft budget today that aims to close a yawning deficit and will likely be politically divisive; France this week announced plans for record bond sales, despite the country’s rising debt-to-GDP ratio.
🔮 US President Donald Trump is set to kick off a month of campaigning, though GOP candidates in tough battles have distanced themselves from a historically unpopular leader.
🔮 OpenAI reportedly aims to raise $30 billion in a new funding round valuing the company at $1.4 trillion, underlining how what was set to be a bumper IPO market to end the year is stalling.
🔮 Paris — already grappling with debt equivalent to 119% of GDP — said it would sell a record amount of bonds next year, prompting the spread between French government bonds and their German equivalents to widen, reflecting what investors see as a rising risk premium.
🔮 European countries have hardened their stance against Chinese imports over fears that an influx of goods like solar panels and EVs could hollow out the bloc’s industries.
🔮 US President Donald Trump rejected a peace proposal from Iran on Friday; he told Axios he believed talks would resume this week, though The Wall Street Journal reported that he told aides he expects to bomb Iran again after November’s midterms.
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The Aporia
