Bloomberg Opinion

This is the latest Points of Return, mostly on section 899 of the Big Beautiful Bill, and its implications for global capital flows. Hope it's of interest:

Brazil's fiscal consolidation is inevitable. It could also be a winning strategy in next year’s presidential election new column for Bloomberg Opinion 🎁 link https://lnkd.in/dHG2MbCq

President Trump has sent a high-level delegation to Alaska to boost energy production there, including a giant, long-mooted LNG export project. He will also reverse a ban on drilling in a large part of the National Petroleum Reserve-Alaska. But in doing all this, he faces one big obstacle: Himself. Alaska has vast oil and gas reserves. But its harsh climate and terrain, plus sheer remoteness, make it a tough and expensive proposition to develop those reserves. The state’s oil boom in the 1970s and ‘80s needed the impetus of the oil crises and the catalyst of enabling federal legislation. Today, the state’s gas own gas needs and a renewed period of international turmoil may provide a security premium to justify another round of investment. But Trump’s own tumultuous trade war and a foreign policy that includes picking fights with allies don’t exactly provide the certainty needed to put big money into new energy projects. Just look at what shale drillers are doing. Read about it here at Bloomberg Opinion https://lnkd.in/eT69q74j

America is becoming less attractive to global investors at a time when its government needs them more than ever. Just a few days ago, Bill Dudley, the former president of the New York Fed, said the market for Treasury securities was sending an increasingly troubling signal. Now, we have data showing exactly that. Read Bill Dudley's piece for Bloomberg Opinion: https://lnkd.in/e8Etm8KN

Does anyone care for Tacos? After five months of serving Tacos (Trump Always Chickens Out), John Authers pens this for Bloomberg Opinion. It's impossible to conclude whether TACO will be a mainstay but for now this piece makes for an interesting read, as usual. Shameless self promotion, I wrote about how China's economic recovery is fragile, connects with TACO and what next when the 90-day truce ends in August. Enjoy https://lnkd.in/e43pYygA

What do you do when consumers won't buy your headsets? Why, sell them to the military, of course! Here's the video version of my recent column looking at the curious deal between Meta and Anduril. (Read the full piece @ Bloomberg Opinion here: https://lnkd.in/eqMQbis7 )

My Bloomberg Opinion column today looks at the limited appeal of artificial-selective-intelligence, as Elon Musk tries to bend his AI to meet the perpetually moving goalposts of MAGA. #ai #grok #elonmusk #MAGA https://lnkd.in/eSJmMJHn

A new development in the culture wars is about to create a fresh set of headaches for corporate America. Issues that left-wing advocacy groups have been heckling companies about for decades are increasingly being taken up by the right — a shift that’s adding complexity and risk for CEOs already struggling to navigate this moment’s deep ideological rifts. There is no better example of the left-right convergence than Health and Human Services Secretary Robert F. Kennedy Jr.’s recent Make America Healthy Again report. Many of the factors it accuses of contributing to childhood chronic disease — ultra-processed food, pesticides, and corporate lobbying’s influence on regulation — have historically been scourges of the left. “What they’re talking about and demanding is not that dissimilar than what the left has been talking about for the last 10 years,” says Charlotte Moore, CEO of Sigwatch, a consultancy and data provider that recently issued a report tracking some 160 US right-wing campaigning groups. But here’s where things get complicated: While the end goals of these two factions might be the same, their framing is radically different. Right-wing activists focus on moral clarity and outrage (e.g. defending personal freedom, protecting children), while left-wing campaigns tend to evoke existential threats (e.g. saving a burning planet). My latest for Bloomberg Opinion. https://lnkd.in/ea6cYufX

Can't help feeling that more attention should be given to the fact Meta is now a *military contractor*. Turns out the "killer" app for VR may indeed be a killer app. I remember when that was a red line, the ultimate taboo, for Silicon Valley firms. For Bloomberg Opinion, I discuss why I think the Anduril Industries + Meta tie-up is symbolic of how US tech's morals have been turned upside down in just a couple of short years. (Draws on the excellent podcast episode from Ashlee Vance's exciting new indie outfit!) #meta #anduril #metaverse #military https://lnkd.in/efzUYWAc

Stop the steel! Japan is giving away too much. Determination got Nippon Steel this far in its $14 billion bid for US Steel. But now it’s starting to look like desperation. To secure approval, Nippon Steel is reportedly offering a golden share that gives Washington veto rights, agreeing to a U.S.-run board, and planning an extra $14 billion in U.S. investment. All this on top of a already-hefty premium, to buy a company whose workforce opposes the takeover. It might get the deal done -- but at what cost? My latest for Bloomberg Opinion, free to read for the next week: https://lnkd.in/gscwbmeA