zerohedge @zerohedge

Top Overnight News

Trump imposes forced labor tariffs, drawing protests from trading partners. EU's Kallas questions US rationale for tariffs on bloc, seeks clarification. Brazil says US tariffs related to forced labor are 'arbitrary' and 'unjustified': RTRS

Stocks Get Some Relief as Brent Slips Below $100: BBG

Trump Is Losing Patience Over an Iran War With No Clear End in Sight: WSJ

Trump vows to punish Iran and Houthis for attacks in Red Sea: AP

Iran flew IRGC commanders, missile gear to Yemen's Houthis: RTRS

The Houthis Have Opened a New Front in the U.S.‑Iran War: WSJ

UK says armed forces ready to defend country after Iran warns over US bombers: RTRS

Iran strikes on CIA facilities prompt questions about possible Russian role: RTRS

US to Use Iran’s Frozen Funds to Pay for Ship Damage, Trump Says: BBG

SpaceX Is Turning Away Falcon Customers in Major Bet on Starship: BBG

Inside China’s All-Out Push to Catch Up With American AI Chips: WSJ

Canada to mark Gordie Howe bridge opening without US after trade war deepens: RTRS

Overseas Buyers In Hot Pursuit of US Crude as Wars Escalate: BBG

Samsung, SK Hynix to Ink Large Chip Supply Deals With US Firms: BBG

ECB Officials Avoid Clear Hints on Possible Hike for Now: BBG

VW Sees Another Sales Drop as China Decline Complicates Turnaround: BBG

https://x.com/zerohedge/status/2080617958942945508

James E. Thorne @DrJStrategy

The full Musk interview with The Economist is a must watch 👇

Musk draws the red line at the point where interest payments on the debt exceed military spending, because that is when a great power starts sacrificing security to service its past borrowing.

That is the warning history points to, and it is the part Wall Street keeps missing.

Trump opened the door for outsiders to attack waste, Musk stepped in, took the backlash, and is now focused again on building the future AI, robots, and abundance.

The part Wall Street keeps missing is that debt and government waste are not just accounting issues; they eventually crowd out growth, raise financing costs, and force painful tradeoffs.

Straightforward views on borders, crime, spending, debt, and waste are not radical.

History tends to reward the people who take on hard problems, not the ones who only criticize from the sidelines.

An exchange of ideas, much needed.

Quote

The Economist @TheEconomist

“There really won't be anything that AI can’t do better than humans, apart from being human, perhaps,” says @elonmusk.

He tells @zannymb that artificial intelligence may exceed the sum of human intelligence in about five years.

Tune in to The Insider from 6pm London time:

https://x.com/TheEconomist/status/2080234344291971497

https://x.com/DrJStrategy/status/2080626876687524229