The Tax Nerd Who Bet His Life Savings Against DOGE - WSJ

kept by eddie feb 26

Tax economist Alan Cole bet his $342,000 life savings that federal spending would not shrink under Elon Musk's DOGE initiative, betting on budget math over political promises.

Tencent Says China’s AI Chip Crunch Is Easing, Plans to Spend More
Tencent states that China's shortage of AI chips is lessening and intends to boost its capital expenditure.
also on #spending
Black Friday Deals Can Put People in Debt. Here’s How to Manage It. - The New York Times
One-click purchases and buy now, pay later loans increase holiday shopping, financial strain, and potential debt, requiring careful management.
also on #spending
Prediction markets are ushering in a world in which news becomes about gambling
Prediction markets like Polymarket incentivize manipulation and gambling on news events, risking public trust by merging information with financial speculation.
also on #prediction-markets, #culture
Why Almost Everyone Loses—Except a Few Sharks—on Prediction Markets - WSJ
A WSJ analysis finds a small number of algorithmic traders capture most winnings on Polymarket and Kalshi, while typical users lose money.
also on #prediction-markets