PWA

A new essay in Noema Magazine argues that artificial intelligence is undermining the meritocracy by automating the skilled, cognitive jobs that historically allowed talented people from modest backgrounds to rise. The piece warns that as AI takes over white-collar and professional work, the traditional path of education leading to upward mobility may close, deepening inequality and freezing social stratification.

Critics are pointing to an estimated $79 trillion upward transfer of wealth in the United States, arguing that billionaires credit their fortunes to hard work rather than an economic system tilted in their favor. The figure is being circulated alongside calls to tax the rich, with commenters framing the concentration of wealth as the result of policy choices and market structures, not individual merit.

A United Nations envoy has warned against 'sleepwalking' into a food catastrophe linked to the Strait of Hormuz, the chokepoint through which a large share of the world's oil and food-related trade passes. The warning highlights the risk that escalating tensions around the strategic waterway could disrupt shipping and drive up global food prices, with ripple effects for importing countries already facing tight supplies.

The average long-term US mortgage rate has risen to 7.28%, its highest level in nearly three years, according to widely reported figures carried by ABC News and regional outlets. The climb adds to affordability pressures for American homebuyers and homeowners weighing refinancing. The rate movement is drawing attention as housing costs remain a central concern for consumers and the broader economy.

Commentators warn that several conditions preceding the 2008 financial crisis have re-emerged, including broad deregulation, weak underwriting standards and opaque new financial products. The argument is that regulators and investors may be ignoring lessons from the last crisis, leaving the banking system exposed to a similar shock. The comparison is drawing attention among readers tracking financial stability.

A baseball fan has complained that watching a game on television while listening to the radio call no longer works because broadcasts now run up to thirty seconds out of sync. The fan, following the Tampa Bay Rays on a Spanish-language broadcast, called the delay annoying and joked about using it to practice Spanish listening skills.

Opponents of Missouri Senator Eric Schmitt are urging voters to remove him from office when his seat is up in 2028. The calls come from critics who describe themselves as firmly opposed to Republicans, using sharp language against the GOP and framing Schmitt's reelection bid as a target for organized opposition. Discussion of his 2028 Senate race is emerging well ahead of the election cycle.

J.P. Morgan is forecasting additional Federal Reserve rate hikes, citing inflation driven by economic shocks. Bond yields extended their upward trend, and rising oil prices are compounding pressure on Asian equities. Investors are also positioning for an expected interest rate hike in Australia, with markets bracing for a prolonged period of tighter monetary policy across major economies.