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.
Iran and the Persistence of US Failure in the Middle East
English Summary
The article argues that the Trump administration is sprinting toward a military conflict with Iran without a clear casus belli or exit strategy, risking a repeat of past Middle East intervention failures. It highlights how justifications have shifted from nuclear concerns to ballistic missiles and internal protests, often driven by Israeli pressure and policy inertia rather than imminent threats to the United States. The author contends that since Iran's ability to harm American interests is minimal, pursuing an unprovoked war would serve foreign interests over domestic ones and likely lead to an open-ended regional crisis.
中文摘要
本文指出，川普政府在缺乏明確開戰理由（casus belli）或退出策略的情況下，正急速邁向與伊朗的軍事衝突，面臨重蹈過去中東干預失敗覆轍的風險。文章強調，開戰理由已從核問題轉向彈道飛彈及內部抗議，且往往受到以色列壓力與政策慣性的驅動，而非源於對美國的急迫威脅。作者認為，鑑於伊朗對美國利益的威脅極其有限，發動一場無端的戰爭將優先服務於外國利益而非美國國內利益，並可能導致一場曠日持久的區域危機。
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