The rapid financing of the AI boom through massive corporate debt issuance is creating significant stress on global financial markets. This influx of private capital forces competition with government Treasury bonds, as AI companies offer higher yields than equivalent sovereign debt, thereby pushing up long-term interest rates. While this signals strong investment demand for AI, it raises concerns about systemic risk and the potential destabilization of core bond markets. Policymakers must navigate the tension between fueling critical technological growth and maintaining stable public borrowing costs to prevent a financial crisis.
America’s Post-Deliberative Wars
English Summary
The article argues that the recent 'Iran War' represents a 'post-deliberative' conflict, characterized by the near-total failure of Congress and the mainstream media to sustain robust public debate on the choice between war and peace. Key evidence cited is the lack of meaningful congressional deliberation or votes before the conflict, contrasting sharply with previous, albeit flawed, instances of military authorization. The implications are dire: this trend of congressional abdication and media passivity reinforces the 'imperial presidency,' necessitating sustained voter engagement and political pressure to restore constitutional oversight of executive military power.
中文摘要
本文論述近期發生的「伊朗戰爭」屬於一種「後審議式」衝突，其特徵是國會和主流媒體在維持關於戰爭與和平選擇的健全公共辯論方面，幾乎完全失敗。文章引用的關鍵證據是，在衝突發生前，缺乏有意義的國會審議或投票，這與過去（儘管有瑕疵）的軍事授權案例形成了鮮明對比。其意涵是嚴峻的：國會的棄權和媒體的被動性趨勢，正在強化「帝國式總統制」，有必要透過持續的選民參與和政治壓力，來恢復對行政軍事權力的憲政監督。
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