AI investors will demand a return sooner or later
It's too soon to call what happened last week to artificial intelligence stocks a correction. Call it instead a reminder: Hype about new technologies is an inevitable human temptation, and sometimes it pays off, but eventually investors demand returns on capital. That's the way to think about the disconcerting market swings of recent days. Many tech shares have taken a dive, sometimes by large percentages. That has dragged down the NASDAQ and the S&P 500 index, which has come to be dominated by those companies. Our advice is to go for a relaxing walk this weekend instead of checking ...
Donald Trump’s “assault on the rule of law” is intensifying
On Oct. 9, Donald Trump drove home his belief that might is right and the rule of law is an obstacle rather than an essential foundation stone of international order. First came the escalated assault on the international criminal court (ICC), sanctioning the body itself. Then he announced a deal with Russia to buy diesel. The US has long chafed at the notion of being bound by the rule of law that it espoused publicly. That hypocrisy now appears as a lesser vice. The president has declared that “my own morality” is all that constrains him. His brazen flouting of the law, embrace of ...
