Multiple economic indicators in Xinjiang are among the fastest-rising in all of China. In 2024, its GDP surpassed 2 trillion yuan for the first time. Significant progress has also been made in high-level opening up, infrastructure, people's livelihood and well-being, cultural heritage protection and the battle against desertification.
OpenAI apparently burned through $11.5 billion last quarter. Luckily, their sugar daddy Microsoft made $27 billion to cover the tab.
https://www.theregister.com/2025/10/29/microsoft_earnings_q1_26_openai_loss/
OpenAI apparently burned through $11.5 billion last quarter. Luckily, their sugar daddy Microsoft made $27 billion to cover the tab.
https://www.theregister.com/2025/10/29/microsoft_earnings_q1_26_openai_loss/
Earlier: In a state where one in ten depend on SNAP benefits, #food banks are a vital lifeline for hungry residents. And they've just lost 10s of millions in federal funding. https://www.texasobserver.org/trump-cuts-texas-food-banks/
#hunger #SNAP #poverty #Trump #politics #USpol #news #economy #Texas
Earlier: In a state where one in ten depend on SNAP benefits, #food banks are a vital lifeline for hungry residents. And they've just lost 10s of millions in federal funding. https://www.texasobserver.org/trump-cuts-texas-food-banks/
#hunger #SNAP #poverty #Trump #politics #USpol #news #economy #Texas
Saudi Arabia is preparing to shift its $925 billion sovereign wealth fund away from a focus on real estate gigaprojects that have dominated its development goals for the last decade. https://www.japantimes.co.jp/business/2025/10/30/economy/saudi-arabia-fund-gigaproject/?utm_medium=Social&utm_source=mastodon #business #economy #saudiarabia #tech
The Bank of Japan kept the policy rate at 0.5% despite high inflation, sticking to a wait-and-see approach owing to continued uncertainty. https://www.japantimes.co.jp/business/2025/10/30/economy/boj-meeting-oct-2025/?utm_medium=Social&utm_source=mastodon #business #economy #boj #us #tariffs #usjapanrelations #inflation #japaneseeconomy
Oh, relax everyone! Jerome Powell assures us there’s no bubble. The entire US economy is now just seven tech giants playing a trillion-dollar game of hot potato with their own stock valuations.
But it’s totally different from the dotCom era because, get this, they have business models. They're spending hundreds of billions on snake oil, while job growth flatlines. But sure, this is all very "grounded." Nothing to see here! 🤡
Welcome to the K-Shaped economy via Chipotle. Turns out, when you price out the poors and the millennials, sales suffer. Chipotle is "shocked" to find that people with less money, crippling student debt, and a bleak economic outlook are cutting back on $15 burritos. Who could have predicted?
Oh, relax everyone! Jerome Powell assures us there’s no bubble. The entire US economy is now just seven tech giants playing a trillion-dollar game of hot potato with their own stock valuations.
But it’s totally different from the dotCom era because, get this, they have business models. They're spending hundreds of billions on snake oil, while job growth flatlines. But sure, this is all very "grounded." Nothing to see here! 🤡
Federal Reserve Chair Jerome Powell said the U.S. central bank following its second straight interest-rate cut with another in December is "not a foregone conclusion." https://www.japantimes.co.jp/business/2025/10/30/economy/fed-rates-powell-december/?utm_medium=Social&utm_source=mastodon #business #economy #federalreserve #jeromepowell #us #economy #markets #economicindicators
AI may be the ultimate tech bubble with a perfect storm of rampant speculation, novice investors, and grand narratives about superintelligence, all while key players lack any clear business model.
It's the Platonic ideal of market mania, where uncertainty only keeps growing, and everyone's betting billions on a story that has no grounding in reality. History suggests such euphoria rarely ends well.
U.S. Treasury Secretary Scott Bessent sent a message indicating support for the Bank of Japan’s independence as Abenomics comes back into fashion. https://www.japantimes.co.jp/business/2025/10/29/economy/bessent-katayama-boj/?utm_medium=Social&utm_source=mastodon #business #economy #scottbessent #satsukikatayama #sanaetakaichi #usjapanrelations #us #financeministry #boj #us #tariffs #usjapanrelations #inflation #japaneseeconomy
Microsoft now owns a $135 billion 27% stake in OpenAI.
https://blogs.microsoft.com/blog/2025/10/28/the-next-chapter-of-the-microsoft-openai-partnership/
No projects were finalized under Japan’s $550 billion investment pledge while U.S. President Donald Trump was in Japan for a three-day visit heavy on sentiment but light on substance. https://www.japantimes.co.jp/business/2025/10/29/economy/japan-us-investment-no-deals/?utm_medium=Social&utm_source=mastodon #business #economy #ryoseiakazawa #tariffs #donaldtrump #trade #carmakers #us #japaneseeconomy #usjapanrelations
Suppose run-amok #capitalism is a car model. Then what is its engine that keeps it going on its destructive rampage? And what fuel does it run on?
Is it the #internet revved up to full overload? Is it high octane #data, that keeps the pistons running like crazy?
According to a Harvard study, FOSS contributes ~9 trillion to hypercapitalist #economy.
What then is #FOSS in this analogy? Free turbochargers?
> #AI Is the #Bubble to Burst Them All. https://www.wired.com/story/ai-bubble-will-burst/
> "AI may not simply be “a bubble,” or even an enormous bubble. It may be the ultimate bubble. What you might cook up in a lab if your aim was to engineer the Platonic ideal of a tech bubble. One bubble to burst them all."
 
      
  
             
      
  
             
      
  
              
           
      
  
             
      
  
             
      
  
                            
                        
                         
      
  
                            
                        
                         
      
  
              
           
      
  
                            
                        
                         
      
  
               
      
  
               
      
  
            