Adam Schwartz is a staff writer at P&L, covering markets, economic policy, and the financial system. He previously worked in credit research, analyzing corporate debt, rate cycles, and balance-sheet risk.
Nvidia has shifted from chip seller to AI infrastructure provider, bundling compute, networking, and software into rack-scale systems with software-like margins.
The old abundance regime is over as capital starvation, longer mine lead times, and weaker supply elasticity turn commodities into a hard-constraint market.
The U.S. beef cow herd is the smallest since 1951, leaving ranchers unable to rebuild supply quickly after drought-led culling.
Young cattle imports from Mexico fell more than 80% in 2026 after a screwworm outbreak, and Canada banned live cattle from the affected region.
The U.S. beef cow herd is the smallest since 1951 after drought forced ranchers to sell animals earlier than planned.
Ground beef is up more than 20% since January 2025 as a screwworm outbreak, drought and a smaller U.S. cattle herd tighten supply.
Nvidia, Oracle, Amazon, Alphabet and Meta are turning to debt to help fund data center buildouts as borrowing costs become a bigger issue.
Greece's travel receipts reached nearly €2.8 billion in January-April, up 36.9% from a year earlier, while nonresident arrivals rose 27.1%.
A fiscal-interest rate feedback loop and core PCE at 3.3% are structural forces re-anchoring the 10-year Treasury yield near 4.5% and ending the era of cheap capital.
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A structural inflation floor driven by tariffs and demographics leaves the Fed with a narrow policy window between reigniting price growth and cracking an overleveraged fiscal position.
SpaceX priced shares at $135 in SEC filing, implying a valuation near $1.8 trillion before Friday's Nasdaq debut.
