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Socialist France may beyond saving….because of socialism, says Economist who evangelized Socialism
Paul Krugman warned that France may have grown too large for the European Central Bank to rescue, as Sébastien Lecornu tries to pass a 2027 budget while migrant protests continue.
Ugly-crisis sketch: Krugman wrote Thursday that a loss of confidence could replay 2009–2012, first Greece, then Portugal, Spain and Italy. He also flagged a relatively low retirement age as the population ages.
Draghi’s old bargain: He said Draghi’s 2012 pledge to do “whatever it takes” held partly because southern Europe made “massive spending cuts.” Rescuing France would be “extremely expensive,” and politically fraught.
Budget and the chart: CNBC’s chart shows the French 10-year at the highest level since 2002. Lecornu’s 2027 budget seeks tens of billions of dollars in fiscal consolidation while students protest education underfunding.
Trichet’s condition: Trichet said Friday, “The ball is in the camp of the French government and parliament,” and “you first have to help yourself.”
AT&T, Verizon and T-Mobile just met an $8 billion rival
Grain Management is selling SpaceX a nationwide 800 MHz license block, up to 14 megahertz paired, and the three national carriers sold off as Starlink Mobile aimed at indoor phone coverage.
Price still undisclosed: The package rumored to be $8 Billion is up to 14 megahertz of paired licenses in the 800 MHz band. Neither side put a number on the sale, and the transfer still needs FCC approval.
Indoor reach is point: SpaceX said the low-band layer will reach handsets through walls and buildings, paired with its satellite-to-mobile constellation, including dead zones. The FCC recently cleared 15,000 more next-generation Starlink satellites.
Musk calls it done: Musk wrote that this is “the last critical piece of the spectrum puzzle needed for SpaceX to provide complete phone coverage in America,” and called the purchase a “very big deal.” In August, COO Gwynne Shotwell said Starlink would build a terrestrial network and go after the big three’s customers, with second-generation satellites in 2027.
Towers rose, carriers fell: Crown Castle, American Tower and SBA Communications gained 8.2%, 6.4% and 5.6% respectively in premarket. Verizon is down 9%, AT&T nearly 10% and T-Mobile more than 13%.
Capitalist Insider: OpenAI’s billion dollar “counting gap” just rattled the chip trade
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Jet fuel up 62%. Delta’s 2026 target just collapsed
A $6 billion jump in the fuel bill forced Delta to drop its 2026 profit range to $5.10–$5.60 a share, the carrier’s first estimate miss in two years, even as cabins stayed full.
Profit range cut sharply: Adjusted full-year earnings were lowered to $5.10–$5.60 a share from July’s $6.50–$7.50. Free cash flow was cut to $2.5 billion from as much as $4 billion.
First miss in years: Adjusted earnings were $1.72 a share on $17.59 billion of revenue, versus $1.75 and $17.67 billion. Net income fell 47% to $756 million, or $1.15 a share, from $1.42 billion, or $2.17.
Cabins still filling up: Premium revenue rose 18% to $6.82 billion. Main-cabin sales rose 12% to $6.8 billion. Fourth-quarter revenue is guided up 20%, above the third quarter’s 16% adjusted gain, but the quarter’s outlook is still below estimates.
Starlink snub still open: Musk wrote last week that Ed Bastian would “lose his job over this” after a report that Bastian told staff, “We do not want to be with Elon Musk. Trust me.” Bastian said “There’s no tit-for-tat.” Delta is adding Amazon Leo. United, American, Southwest and Alaska use Starlink for in flight wifi.
Apple slides 3% after cutting iPhone 18 Pro orders 15%
Apple was down 3% at $331.22 Friday after Nikkei said October parts orders for both premium iPhone 18 models were cut 15% to 20%.
October orders cut hard: A Nikkei report said October parts orders for both premium models were cut at least 15% from the original plan, with one supply-chain executive putting the reduction at 15% to 20%. Skyworks slipped 2% to $78.95. Qualcomm rose 0.4% to $176.64.
Prices jumped a hundred: The Pro starts at $1,199 and the Pro Max at $1,299, each $100 above the prior generation. One supply-chain source called the new handsets “just too expensive.” The standard iPhone 18 is not due until spring 2027.
Analysts already flagged softness: Bernstein’s Mark Newman wrote Monday that U.S. Pro and Pro Max demand is down low single digits from a year ago, while China launch-week sales rose 12%. Jefferies’ Edison Lee pointed to weak resale prices versus the 17 lineup.
Memory costs still rising: Tim Cook said in July that “we see the market pricing for memory continuing to increase, which could drive an increasing impact on our business.” Management has projected supply constraints will worsen in fiscal Q4 2026 across iPhone, Mac and iPad.
“Success is not villainy” Bezos says Socialism on the rise because of Econ 101
Jeff Bezos told Bret Baier that socialism is gaining ground because housing and other costs are genuinely high, and because politicians point at villains instead of supply.
Interview on factory floor: Bezos spoke Wednesday on the Blue Origin Space Coast floor. The conversation aired on Special Report. He was asked what is pulling some voters toward socialism.
Housing called econ 101: He said programs that “subsidize demand and constrain supply” produce high prices, and that blaming “greedy landlords” misses the cause. “Housing is a simple supply and demand situation. It’s econ 101.”
Austin as the counter: Over the last 10 years, he said, Austin policies that made building easier have sent housing prices down. He argued the affordability problem is real and should not be waved off.
Success is not villainy: “If there’s a politician who’s picking villains and pointing fingers, that probably means they don’t have a solution.” He rejected an oppressor-oppressed frame and said “Success is not villainy.”
Trump rules out an Iran strike. Bitcoin steadies at $82,500
Bitcoin steadied near $82,500 after Trump said the U.S. will not strike Iran before the Nov. 3 midterms. It is still down 2.2% this week, the weakest stretch since the week ended Sept. 11.
The Thursday post: In a Truth Social post, Trump said the U.S. will not attack Iran before the Nov. 3 midterms. Brent fell about 1.5% to around $103. Bitcoin was up 0.9% over 24 hours to $82,474.54.
Still a soft week: The 2.2% weekly drop is the worst since the week ended Sept. 11, when Bitcoin fell 3.2%. Last week the coin hit $86,000 after Fed Vice Chair Philip Jefferson urged patience on rates.
Strategy and the brokers: Strategy rose 2.2% premarket to $154.80 and is still on pace for its worst week since Sept. 11. Barclays raised that target to $175 from $160. Robinhood rose 1.7% to $108.82 and Coinbase 1.9%.
Targets moved up: Morgan Stanley raised Robinhood to $160 from $150 and Coinbase to $258 from $250. Both broker stocks are still down on the week, Robinhood 3.5% and Coinbase 4.4%.
Krugman is an idiot and usually wrong about everything! It depends on whether France wants to do the things it has to do! It will not be pretty!
MSM and the left tv propaganda stations are ignoring reporting these nrws to our stupid voters with help of the Marxist Muslim Democ rat 🐀 party