10 juli. Iran has demanded. US 30Y. Japan. Ottomaner och Kalifat. Ai 1873. Malta Tax avoidance. CXMT.
Like all transformational technologies, artificial intelligence must be financed with borrowed money long before it can generate a return.
More than 150 years ago, financier Jay Cooke’s ambitious campaign to fund the Northern Pacific Railroad began to unravel not because railroads were a bad idea, but because the bonds financing it traded at steep discounts for months.
Investors have awakened to the financial risks of the artificial intelligence buildout.
His firm’s collapse triggered the Panic of 1873.
John Authers Bloomberg 10 August 2026
https://englundmacro.blogspot.com/2026/06/the-forgotten-crash-of-1873-and-its.html
Even by standards of the AI era, CXMT Corp.’s trading debut in Shanghai last month was extraordinary.
Within a few hours, the memory chip maker
seen as Beijing’s best hope of reducing reliance on foreign suppliers and challenging the US in AI
surged more than 500% to become the most valuable stock in mainland China,
eclipsing Industrial and Commercial Bank of China Ltd., which held the top spot for years.
Malta, part of the European Union; Tax avoidance and tax evasion.
There are only a bit over 500,000 people on the island. But it has attracted more than $500 billion in foreign direct investment. At the same time, Maltese companies have invested about the same amount overseas.
That’s about a million dollars per man, woman, and child in each direction.
Paul Krugman Aug 10 2026
https://englundmacro.blogspot.com/2026/08/malta-part-of-european-union-tax.html
Ottomanska riket, var ett turkiskt imperium i Västasien, Nordafrika och Balkanhalvön som existerade under åren 1299–1923.
https://sv.wikipedia.org/wiki/Osmanska_riket
Kalifatet – profetens omstridda imperium
Den islamiska statens brutala framfart i framförallt Syrien och Irak har knappast gått någon förbi. Den väpnade sunnimuslimska organisationen rättfärdigar sin existens med referenser till det historiska kalifat som utropades vid profeten Muhammeds död år 632.
https://popularhistoria.se/civilisationer/mellanostern/kalifatet-profetens-omstridda-imperium
Mongolernas plundring av Bagdad gjorde slut på islams guldålder
Kalifat
https://sv.wikipedia.org/wiki/Kalifatet
Why the Ottoman Empire Stopped Being Powerful
TheS&P 500 starts the week at an all-time high, up 13.3% for the year.
Stockholmsbörsen stängde nedåt på måndagen
Oljepriset lyfter över 5,5 procent och ett fat Brentolja handlas för 86,60 dollar fatet. SBB backade efter plötsligt vd-byte.
https://www.di.se/live/sbb-backade-pa-rod-bors/
Berkshire Hathaway finally started spending its nearly $400 billion in cash — on one stock it knows very well, its own.
US Treasury Secretary Scott Bessent is sending signals that he’s eager to keep bond yields from spiking higher after long-term rates surged to a 19-year high.
Bessent is attempting to stem the ascent of long-term bond rates, which have climbed due to persistent inflation and nearly $2 trillion annual budget deficits.
Bloomberg 9 August 2026
Private Credit Is Under Growing Strain
Blue Owl, Blackstone and other investment firms have said fears gripping the relatively new market are overdone, and that their loan portfolios are doing well.
“Some in the press have been saying ‘Oh no, the sky is falling,’ and some of my peers at other firms have been saying ‘That’s nonsense, there’s no problem,’”
“Neither of those is accurate. We are clearly in a credit cycle. It’s not a particularly bad one, but there will be winners and losers.”
Private-credit funds invest money from clients in high-interest loans to heavily indebted companies, a strategy called “direct lending.”
Until recently, the hefty returns the funds delivered made them one of the hottest flavors on Wall Street.
Then, investors grew alarmed
Bloomberg 9 August 2026
Den stora majoriteten av svenska aktier är förlorare. Börsrekorden som följt varandra under sommaren ger sken av att börsen är fylld av vinnare.
De senaste fem åren har endast 1 av 5 svenska aktier gett en positiv avkastning. Det visar en genomgång av 755 svenska börsnoterade bolag, som aktiestrategen Erik Hansén nyligen publicerat på plattformen Substack.
Han framhåller att ett fåtal kursraketer, såsom försvarskoncernen Saab som rusat över 800 procent under perioden, driver upp indexen och därför gömmer förlorarna.
Men förlorarmassan är enorm. Av de granskade bolagen gick nästan 80 procent back under perioden, varav hälften förlorade tre fjärdedelar av sitt börsvärde.
Téa Ginolin DI 10 augusti 2026
https://www.di.se/nyheter/borsrekorden-lurar-fyra-av-fem-aktier-har-gatt-back/
Dagen innan
https://englundmacro.blogspot.com/2026/08/7-juli-marknaden-battre-fascism.html
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