Imagine a can opener an economy driven by consumption:
AI fears came roaring back, with Nasdaq futures pointing to a reversal of yesterday’s gains in tech shares. Data-center company Elice saw its stock plunge 32% on its trading debut in Seoul, underscoring the worries about whether the AI boom can justify the billions being poured into the industry. Attention in the tech world now turns to Netflix, which is due to report earnings today. The streaming giant is under pressure to show it can produce hit movies and TV series again after a recent drought.
From the daily Bloomberg email a couple of days ago– again, only the messenger – but the shell game on display in the pivot presents a mid-stream snapshot of the shell game very much in progress. The crowding out of housing, retail, public infrastructure, education, healthcare… any other sector, in favor of hyperscaler AI build out that shows very little demand but on which the stock and bond markets are tied like pretty ladies to the track, quickly gives way to pressure/hopes for another fount of leprechaun gold. What’s that sound? Oh, not to worry – that’s way over there in France:
Four years after the invasion of Ukraine, France is the European country that has bought the most Russian liquid natural gas since the beginning of 2026.
The threats are piling up between Moscow and Brussels, but our money continues to cross the border. We’re financing the two camps of the same war.
That money going to Russia and the Gulf states doesn’t stay in our country to renovate schools and support the most disadvantaged.
Basically, the high cost of living that filled the streets on Saturday is, first and foremost, a deep-seated divide.
My translation of an IG post from yesterday. Added note on a weird-ish development: I’ve been following the protests in France only through social media – videos, writing, and narration from individuals on the ground, in the street, commenting on the government’s response, as opposed to any American or British media outlets. It’s just a thing I noticed myself doing, and requires added vigilance to read/listen to subtext and signals from these unknown (to me) interlocutors. As the far right tries to assert itself in the chaos, posts are potentially potential mis- or disinformation, so you have to read all the way to end, and think about how you’re being to told what, and who is being blamed. In an otherwise little-noticed development, the onus falls on me to figure out whether I am being manipulated.
