On Wire

Breaking news, updates, and reports on current events.

The Lunatics Are Running The Asylum

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by Michael When I was 10 years old, the United States was one trillion dollars in debt. Now we are nearly 40 trillion dollars in debt. So what did we get for spending 39 trillion dollars that we did not have? What we got was a gigantic mountain of debt that threatens to bring down … Read more

Retail sales slump, consumer sentiment plunges

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U.S. retail sales fell in July for the first time in nine months as the boost from big tax refunds faded, suggesting that consumer spending was slowing down and prompting economists to slash their economic growth estimates for ​the third quarter. The unexpected decline in retail sales reported by the Commerce Department on Friday was … Read more

Dell can’t ship Alienware PCs to certain US states due to newly adopted power consumption regulations

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Interested in a new gaming PC from Dell’s Alienware brand but happen to reside in one of half a dozen states with strict energy efficiency rules? Well, you’re out of luck, as recently adopted laws are now preventing the company from shipping select configurations to customers in six states. Per the new rules, Dell is … Read more

Jamie Dimon of JPMorgan, $JPM, has said that the American dream is dying for the bottom 20% of households, per FORTUNE

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Between house prices, the cost of living, and the threat AI poses to the labor market, Gen Z could be forgiven for giving up on the American Dream. Jamie Dimon, CEO of JPMorgan Chase, understands why—but he says they’re wrong anyway. The American Dream—the idea that anyone from anywhere can achieve success as long as … Read more

Why I don’t think “just tax billionaires more” solves it

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If politicians can hand corporations subsidies, write tax loopholes, steer billions into defense contracts, run huge deficits and keep expanding the money supply, then taxing billionaires more afterward doesn’t fix the system. It just takes a bigger piece of the wealth created by that system. Want to actually attack the problem? Close the loopholes. Stop … Read more

CNN panelists just declared ICE agents murdered two American citizens on live TV

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CNN goes off the rails after TWO panelists flat-out accuse ICE agents of murdering American citizens. Scott Jennings refuses to let it slide. Even the host had to step in and push back. SARAH MATTHEWS: “There weren’t murders of American citizens in our streets, and [Obama] was able to do… immigration enforcement.” JENNINGS: “What murders … Read more

Top economist warns that the AI math doesn’t make sense: ‘Profits are currently being funded by investors rather than earned from customers’

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Slok broke the AI stack into four layers: models/applications, cloud/compute, energy/grid, silicon/equipment. Silicon and equipment (chipmakers) show 41% profit margins. Models and applications (OpenAI, Anthropic and similar) show -59% operating margins. Upstream profits are real but they are paid for by capital raised by the losing layer, not by end-user cash flow. Goldman projects AI … Read more

AOC gets plenty of exposure and air time

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AOC gets plenty of exposure and air time, but there is a whole different level of scrutiny that is applied when one runs for president. One debate and it's over. https://t.co/YzswveIDcD — Jared Dillian (@dailydirtnap) August 13, 2026 BREAKING: AOC is now the odds favorite to be the 2028 Democratic nominee pic.twitter.com/r5aoK4NXRH — Kalshi (@Kalshi) … Read more

USPS Workers Are Quitting EVERYWHERE — Here’s Why

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The United States Postal Service is struggling to hire and retain workers as staffing shortages continue affecting mail carriers, sorting facilities, and post offices across the country. Many employees point to heavy workloads, long hours, demanding routes, and increasing package volumes as reasons why keeping positions filled has become more difficult. In some areas, staffing … Read more

Japan’s teeth regrowing study has completed Phase 1 successfully. Now moving to Phase 2

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You grew two sets of teeth in your life. Your jaw quietly holds the beginnings of a third. Most mammals stop at two. But extra-tooth buds form in humans, and then a protein called USAG-1 switches them off. Block that protein, and the paused program restarts. In mice and ferrets,… pic.twitter.com/l5tx8W6izD — Avi Roy (@agingroy) … Read more

Feds bust NYC fraud scheme that engineered hundreds of sham marriages between Americans, Chinese nationals

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WASHINGTON — The feds nabbed 11 suspects accused of operating a decade-long, multimillion-dollar marriage fraud scheme that resulted in around 1,000 sham weddings between primarily Chinese nationals and US citizens for the purpose of getting the Asians green cards. The “cottage industry” uncovered Wednesday charged foreign nationals up to $100,000 for each fake union, including … Read more