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Melco Resorts And Entertainment (MLCO) Stock Shrugs Off Margin Pressure##
Melco Resorts & Entertainment stock barely flinched after earnings, edging about 2% higher to around US$5.60. The market reaction looked calm for a casino operator that just reported a sharp squeeze in quarterly profitability. Net income fell to US$22.7m in Q2 on US$1.25b of revenue, with basic earnings per share slipping to US$0.06. The near term snapshot looks soft. The bigger question is whether investors focus on this margin pressure or on a business that, over the past year, has reported...
Rob Gronkowski played matchmaker at Taylor Swift and Travis Kelce’s wedding for this ‘beautiful’ celebrity
Rob Gronkowski said he played matchmaker for former Patriots teammate Julian Edelman at Taylor Swift and Travis Kelce’s wedding.
10 Bears players to watch in preseason opener vs. Browns
The Bears begin their preseason slate by welcoming the Browns to Soldier Field on Saturday. Here are some players to watch.
SGMC Health Welcomes Internists Brandon Rockwell, MD, and Justin Owens, DO
SGMC Health welcomes Internal Medicine physicians Brandon Rockwell, MD, and Justin Owens, DO, to the health system. Drs. Rockwell and Owens will see patients at SGMC Valdosta Medical Clinic in Valdosta beginning August 24.
Google Play Store hides Pixel 11 series discounts in plain sight
The Pixel 11 phones are here and there's no shortage of deals. In fact, the Google Play Store has welcome discounts as well.
Connections: Sports Edition today: Hints and answers for Aug. 14, 2026, puzzle No. 690
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
AWSOM grows to nearly 100 students
The Alice L. Walton School of Medicine (AWSOM) in Bentonville recently expanded to 96 students after welcoming its second class of 48 students in July. The medical school’s second cohort,...
Essentia Health welcomes new executive vice president
Essentia Health is excited to announce the addition of Jason Craig as executive vice president of administration and operations.
Melco Resorts & Entertainment (MLCO) Stock Rises on Q2 2026 Earnings
Melco Resorts & Entertainment Limited (MLCO) reported second-quarter 2026 revenue of $1.3 billion, down 40.0% from a year earlier, as gross profit fell sharply to $429.4 million. Despite the weaker top line, operating profit improved to $127.8 million, while net income attributable to common shareholders rose to $22.7 million, or $0.057 per diluted share.Cash generation strengthened meaningfully during the quarter. Cash from operating activit
Connections: Sports Edition today: Hints and answers for Aug. 13, 2026, puzzle No. 689
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
Lincoln’s Table: Upscale sports bar G.O.A.T.’s Table welcomes wins, parties and family dinners
In another episode of Lincoln’s Table, 10/11’s Nathan Brennan stopped by the new G.O.A.T’s Table, an upscale sports bar near 84th and Van Dorn.
Buc-ee’s in San Marcos officially opens to large crowds of customers
Buc-ee's held a grand opening for its newest rest stop location in San Marcos on Wednesday, welcoming hundreds of guests and Texas Governor Greg Abbott.
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A-List Editors’ Choice Awards 2026: Arts, Culture & Entertainment
SPECIALTY BOOK CLUB Shakespeare Festival Reads If you long for the welcoming embrace of high-school English class as an adult, the Shakespeare Festival Reads book club may be for you. This collab between Left Bank Books and St. Louis Shakespeare Festival guides readers through monthly picks from The Bard and titles that help expand your […]
Greektown 'open for business' after $20M streetscape project
As the historic district welcomes back visitors after a year-and-a-half-long redevelopment project, there’s a question of whether Greektown should remain pedestrian-only.
Connections: Sports Edition today: Hints and answers for Aug. 12, 2026, puzzle No. 688
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
CARTI Foundation welcomes 3 new board members
The CARTI Foundation added three new board members: Kristi Moody, Kyle Morgan and Ardyth Neill. Kristi Moody is deputy general counsel with Summit Utilities. She previously worked at Windstream for...
Action News business administrator, husband welcome baby girl
We want to introduce you to the newest member of our extended Action News family.
Mason Rudolph Doesn’t Hold Back About Former Steelers Coaches
New Pittsburgh Steelers head coach Mike McCarthy has dedicated himself to developing the team’s quarterbacks, which is a welcome sight for Mason Rudolph, who opened up about the lack of tutelage under the previous coaching staff.“He brings a level of expertise that I just have not been around,” Rudolph told reporters, including Gerry Dulac of […] The post Mason Rudolph Doesn’t Hold Back About Former Steelers Coaches appeared first on HEAVY.
421 bugs in Microsoft's Patch Tuesday release, and the Norks have already attacked one
Sysadmins, welcome to your new norm
The Guardian view on AI money in US politics: not the way to hold an urgent democratic debate
Editorial: Amid public concern over the impact of new technology, Silicon Valley’s use of its wealth to influence specific election races is an unwelcome development
SGMC Health Welcomes Internal Medicine Residency Faculty
SGMC Health welcomes Anna Ledford, MD, and Mariya Tom, MD, to SGMC Internal Medicine – Park Avenue, where they will serve as attending physicians and teaching faculty for the Internal Medicine Residency Program.
Heart health enters the future with a $28.7 million gift from the Marcus Foundation
Related News USC Stem Cell welcomes new leader, renowned physician-scientist Chuck Murry August 20, 2024 An early blood test can predict survival in patients with metastatic prostate cancer, shows USC […]
Get your fantasy football edge with USA TODAY Sports Fantasy
Introducing USA TODAY Sports Fantasy, the premium tool for fantasy football managers.
Annie Patwell Joins Marist's Sports Medicine Department
Patwell Will Work With Men's Soccer, Swimming & Diving, Baseball
Winchester families can now register for Cool Science Club
The following was submitted by the Cool Science Club: Registration for the Cool Science Club is now open for the summer of 2026! We are excited to welcome both new and returning students to the Cool Science Club for another summer of discovery! CSC offers a wide array of engaging,
Welcome new School of Medicine, Graduate School and School of Health Professions students!
Meet our newest students on the Baylor College of Medicine campuses.
Trade for Caedan Wallace continues roster turnover
Welcome to the Splash Zone, the quickest way to get your day started off right. We bring you a rundown of Miami Dolphins news from the last 24 hours.
Health Sciences outreach program helps amplify the voices of people with aphasia
The UK College of Health Sciences is helping people with aphasia reconnect with their communities by partnering with local businesses and organizations to create more communication-friendly spaces. Through a unique outreach program, students work alongside individuals with aphasia to educate employees, reduce communication barriers and make everyday experiences more accessible and welcoming.
Connections: Sports Edition today: Hints and answers for Aug. 11, 2026, puzzle No. 687
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
I Made This: ‘Strouse Entertainment: Starting a Business from a Wheelchair’
Recent Full Sail University Digital Cinematography graduate Van Eisenhour created a mini-documentary in class that earned a spot at Wellsboro Film Festival.
I Just Had My Mind Blown By A Car Museum In The Middle Of Nowhere Built By A Scrap-Metal Magnate
Having lived in Detroit, LA, and Bavaria, and having a brother who lives in Hong Kong, I’ve been lucky enough to see some of the greatest car museums/collections this world has to offer. This past weekend, while on vacation with my family in Iowa, I saw one that surprised me and that I feel compelled […]
Someone Made a Terrific Deal in the Peacock/YouTube Premium Partnership…But Who?
(Welcome to the “Most Important Story of the Week”, my bi-weekly strategy column analyzing the most important (but often not buzziest) news story of the last two weeks. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. Please subscribe.) I hope everyone around the world suffering from record heat waves is doing okay. The temperature is already up in Southern California, but obviously not nearly as bad as parts of Europe. With a super El Nińo coming this year, I worry it will get even worse. Yes, we know what’s causing this heat—it’s the carbon, duh—but we really aren’t making enough progress. I’m not “environmental strategy guy”, but if I were, I’d have some ideas of what I’d try. Honestly, for years I’ve been intrigued by the work of the folks at MEER—whose plan, super simply, is to put up mirrors to reflect heat (while continuing the important work of decarbonization)—but I’m frustrated this idea hasn’t made more progress. (Other geo-engineering groups seem to get better press.) With heat like this—cancelling events, hurting economies and, most importantly, killing people—it seems like the time to push solutions! The “mirrors on the ground” solution has barely been tried.1 While entertainment companies may not “feel the heat”, lots of outdoors/experiential industries—concerts, theme parks and so on—will. Even movie theaters could benefit, since mirrors could help lower AC costs, which I imagine is not an insignificant expense, especially in the hotter areas of the country. So I do think the entertainment industry should prioritize this issue. Anyways, let’s get back into the entertainment strategy. I was about to write, “Hey, this week we don’t have any mergers and entertainment news to dive into,” but that’s not really true, since we had more updates on Paramount-Skydance and Warner Bros. Discovery. But the big story of the week involves a streamer and a Big Tech platform bundling their respective streamers. So I’ll write about the updates on Paramount buying Warner Bros., Versant making some moves, and a whole lot more. But we start with a surprising deal: Peacock licensing their content to YouTube Premium. Let’s dive in! Subscribe Most Important Story of the Week - Peacock’s Pricey Premium Partnership The story of the week is Comcast’s2 NBC-Universal’s Peacock making a deal with Google’s YouTube’s YouTube Premium subscription product to embed their content. And I’ll say this up front: Someone made a terrific deal. The question is who. And I’ll be honest: I don’t know. Let me explain why, including why this deal exists, the pros and cons for each side, the biggest unknown, and what that says about the streaming wars. Customers Love Bundles (But YouTube Has Its Own Issues) We’re just getting started with this issue, but the rest is for paid subscribers of the Entertainment Strategy Guy, so if you’d like to find out… Why customers love bundles… But why I’m worried about YouTube’s integration... How Peacock is trading scale for control… And the reason they likely made this deal... The odd budget math for this deal... Whether or not I think the Paramount-Skydance/WBD deal is more likely after the latest settlement... Versant making moves and why that’s good for Hollywood… Another distributor going out of business… ...and a whole lot more! ...please subscribe! We can only keep doing this great work with your support.
Welcome To Kotaku Warp Week: The 2002 Edition
Nintendo is on the ropes and gaming's moral panic is in full swing
Polymarket Promo Code SBWIRE Get $20 Bonus for NFL, Politics & More For August
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STONY BROOK MEDICINE COMMUNITY MEDICAL GROUP WELCOMES BESTIN KURIAKOSE, DO, TO LONG ISLAND ORTHOPEDIC SURGERY AND SPORTS MEDICINE
SMITHTOWN, NY, August 10, 2026 – Bestin Kuriakose, DO, has joined Long Island Orthopedic Surgery and Sports Medicine, a practice of Stony Brook Medicine Community Medical Group, part of Stony Brook Medicine's expanding network of community practices. “At our practice, we are committed to providing seamless, patient‑centered musculoskeletal care,” said Sandra Iannotti, MD, FAAOS, Orthopedic Surgeon, Long Island Orthopedic Surgery and Sports Medicine. “I’m pleased to welcome
Missing a Discontinued Perfume? This Nantucket Shop Can Find It
Caroline Harding was 16 when she inherited her father's Nantucket perfume company. She'd already spent years learning to smell the world the way he did.
Connections: Sports Edition today: Hints and answers for Aug. 10, 2026, puzzle No. 686
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
Aubrey Plaza welcomes first child with Christopher Abbott
The couple, who met as costars on the 2020 psychological drama “Black Bear,” have remained largely silent about their relationship.
Aubrey Plaza welcomes first child with Christopher Abbott
‘Parks and Recreation’ star Aubrey Plaza and ‘Poor Things’ actor Christopher Abbott just welcomed their first child together.
Northwood students explore Midland in Go MAD March
As Midland prepares to welcome students to Northwood University’s campus in a few weeks, some of the city’s small businesses will get face time with newcomers on Aug. 21 for a welcome-back...
Yankees Social Media Spotlight: Welcome to the Concrete Jungle
A trio of new Yankees take the lead in this week’s social media roundup.
Enzo Maresca is welcoming the challenge of managing Manchester City
Enzo Maresca had no hesitation in jumping at the opportunity to replace Pep Guardiola as the manager of Manchester City. Following in Guardiola’s footsteps may have been a challenge that some manage...
Connections: Sports Edition today: Hints and answers for Aug. 9, 2026, puzzle No. 685
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
Haiti and the politics of persecution
Haiti is not an abstraction. Haiti is a nation whose pain has too often been treated as policy collateral, a people whose labor is welcomed when needed and whose lives are discounted when convenient. Now, with the Supreme Court allowing the Trump administration to terminate Temporary Protected Status for Haitians and Syrians, more than 350,000 […]
SB Nation Reacts Results: We still believe!
Welcome to SB Nation Reacts, a survey of fans across the MLB. Throughout the year we ask questions of the most plugged-in Arizona Diamondbacks fans and fans across the country. Sign up here to participate in the weekly emailed surveys. It’s hard to argue that the 2026 trade deadline was anything other than underwhelming for […]
It's Official, PlayStation Is Over As We Know It
Welcome to PlayStation's all-digital age.
Fauci contempt vote reflects the enduring politics of COVID
Republican lawmakers and Secretary of Health RFK Jr. continue to scrutinize the legacy of COVID-19, recently voting to hold retired immunologist Anthony Fauci in contempt after his refusal to testify before a Senate committee.
West Virginia Aviation Hall of Fame welcomes Huntington native
A Huntington native was recently inducted into the West Virginia Aviation Hall of Fame for his personal and professional accomplishments over the last 50 years.
Connections: Sports Edition today: Hints and answers for Aug. 8, 2026, puzzle No. 684
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
PhillyGoat lets you wear home team pride for all Philly sports
PhillyGoat is an apparel brand that pays homage to the founders' belief that the city of Philadelphia is the 'greatest of all time'. Brothers Ryan, Brett, and Patrick Cassidy were born in Philly and raised in Delco, and share a lifelong love of sports.
Patrick Mahomes, Travis Kelce accused of minimizing role in steakhouse lawsuit
A sneaker company is accusing Patrick Mahomes and Travis Kelce of downplaying their role in the 1587 Prime steakhouse amid a trademark dispute.
Essentia Health-Duluth Clinic welcomes family medicine specialist Dr. Nicholas Woessner
Dr. Nicholas Woessner, a doctor of osteopathic medicine specializing family medicine, is thrilled to join the Essentia Health-Duluth Clinic.
Wheeling Athletics Welcomes Six More Fall Sports Friday as Fall Camp Continues
Wheeling, W. Va. – After welcoming in the Wheeling Football team a week ago, the Fall Sports Report Day schedule continued for the Wheeling University Athletics Department on Friday. Six more sports joined the fray, with Volleyball, Women's Soccer, Men's Soccer, Men's & Women's Cross Country, and Men's Rugby all reporting for fall camp. In total, the department has welcomed seven of the 10 fall sports back to campus, with the 2026-2027 athletics season sitting just 20 days away.
Melco Resorts & Entertainment Limited to Release Second Quarter 2026 Financial Results on August 13
Melco Resorts will announce Q2 2026 financial results on August 13, followed by a conference call at 8:30 a.m. ET.Quiver AI SummaryMelco Resorts & Entertainment Limited has announced that it will release its unaudited financial results for the second quarter of 2026 on August 13, 2026, followed by a conference call at 8:30 a.m. Eastern Time. Participants must register in advance to receive dial-in details. The conference call will be available vi
Connections: Sports Edition today: Hints and answers for Aug. 7, 2026, puzzle No. 683
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
Chiefs' Mahomes, Kelce Look For Vengeance In 2026-27 Season
The Kansas City Chiefs failed to make the playoffs last season, for the first time since 2015. Now, all eyes are on the dynamic duo of Patrick Mahomes and Travis Kelce to get back to greatness.
UFC Vegas 120’s Mateusz Gamrot ‘changed his style’ because ‘the politics’
“Gamer” knows what’s up. No. 8-ranked Ultimate Fighting Championship (UFC) Lightweight Mateusz Gamrot welcomes red-hot Australian prospect Quillan Salkilld to the main event scene when the two headline UFC Vegas 120 this weekend (Sat., Aug. 8, 2026), inside the Meta Apex in Las Vegas, Nevada. For Gamrot, this is familiar territory. UFC Vegas 120 will […]
Costa Welcomes House Democratic Caucus Chair Pete Aguilar to Central Valley Health Care Roundtable
FRESNO, Calif. - This week, during Affordable Healthcare for Every American Week of Action, Congressman Jim Costa (CA-21) welcomed Congressman Pete Aguilar (CA-33), Chair of the House Democratic Caucus, to the Central Valley for a roundtable hosted by Community Health System to hear directly from local hospitals and health care leaders focused on the federal funding reductions under H.R.1, including changes to Medicaid and the Affordable Care Act, as well as the Administration's decision to withhold approximately $867.5 million in federal Medicaid funding from Califor
Penn State Health Life Lion adds new helicopter
Penn State Health Life Lion Critical Care Transport has welcomed a new helicopter to its life-saving fleet, reinforcing the program’s commitment to providing safe, rapid critical care transport across…
Business Briefs: Aug. 7, 2026
UMassFive welcomes new associate director HADLEY — UMassFive College Federal Credit Union welcomes Timothy (Tim) Webster to its board of directors as an associate director. Webster brings extensive experience in law, governance, higher education and international affairs, along with a longstanding commitment to service and community engagement. Webster is a professor of law at Western […]
49ers News: Welcome to the Bay, KhaDarel and Ogbo
Your daily San Francisco 49ers news for Thursday, August 6th, 2026
Connections: Sports Edition today: Hints and answers for Aug. 6, 2026, puzzle No. 682
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
Travis Kelce’s coach Andy Reid defends athlete from ‘dad body’ claims in wake of Taylor Swift wedding
Travis Kelce’s coach Andy Reid defended the tight end from ‘dad body’ claims weeks after marrying Taylor Swift.
‘Pokémon Pokopia’ 2.0 Patch Notes: An Enormous, Welcome Update
Here are the patch notes for the 'Pokemon Pokopia' 2.0 update, the largest for the game since its highly successful launch.
Chartbook 464 The"China squeeze" - the politics of development counterfactuals.
There are three types of China shock discourse. Each has a distinct temporal register. China shock 1.0 was a phrase coined by US academics in the 2010s to retrospectively summarize the impact on particular US labour markets, which they identified through painstaking empirical investigation. China shock 2.0 on everyone’s lips in Europe in the mid 2020s is an alarm raised by trans-Atlantic policy thinkers warning of a coming disaster which they project onto Europe’s ailing car industry. The third type of China shock discourse - commonly known as the “China squeeze” launched most recently by Indian economists Shoumitro Chatterjee and Arvind Subramanian in the pages of Foreign Affairs - mobilizes a different, more speculative temporal register: the counterfactual realm of alternate history. The China squeeze argument asks not what has happened, or what is going to happen, but what might have been. Specifically, what options for economic development might have been open to Global South economies like India or the economies of sub-Saharan Africa, had it not been for China’s spectacular industrialization since the late 1990s and the persistent competitiveness of China’s manufacture in low-skilled segments. Chatterjee and Subramanian’s argument is that whilst China has built a powerful position in electrical machinery and other high-skill manufacturing, which is now delivering China Shock 2.0, it also continues to run a trade surplus in low-skill, labour-intensive manufacturing. This surplus is large and has remained largely unchanged in fifteen years. Indeed, in the 2010s, in trade with low-income countries, China’s surplus rapidly increased. On their reading, this squeezes low-income producers in low-skill sectors in which they “should” be able to compete. Source: “China’s Mercantilist Squeeze on Developing Countries” Shoumitro Chatterjee and Arvind Subramanian. Peterson Institute for International Economics 26-7 May 2026 Chatterjee and Subramanian’s wording is telling: (emphasis mine) The canonical trajectory of economic development in the post-World War II period is for countries to transition from agriculture to manufacturing, first in low-skilled manufacturing and then later on to high-skill manufacturing (Herrendorf, Rogerson, and Valentinyi 2013). At the global level, this implies that high-income countries (HICs) that once specialized in low-skilled activities cede manufacturing export space to poorer countries that come along to occupy that space. In 1965, advanced economies accounted for about 60 percent of global value-added exports in four key low-skilled manufacturing sectors, i.e., apparel, leather, textiles, and footwear. Over time this share declined and began to be occupied first by the East Asian tigers and, beginning in the late 1990s, by China. Today China accounts for about 50 percent of the global market. The question is whether China, with its rising prosperity, is continuing to behave like its richer counterparts and ceding export space to poorer followers or to behave unlike them and continuing to occupy space. In terms of the conceptual maneuvers it performs, of the three China shock discourses, the “China squeeze” argument is by far the most ambitious. After all, it bases its critique of China on a counterfactual imagining of the world. Like any counterfactual argument, to construct this alternative reality it must rely on a heuristic model. To make their argument Chatterjee and Subramanian mobilize two key claims. The first reference point is the actual history of rich-country industrialization, what they refer to as the “canonical path”. The idea is that countries transition from agriculture to light industry and low-skilled manufacturing and from there up the value chain. To make this useful as a standard of comparison and a means to construct a normative standard, they adjust sectoral export shares for two factors: 1. the underlying level of economic development of the exporting country, as measured by national income and 2. the degree to which the sector in question is internationalized. The idea being that for a high income country to have a high export share in low-skill sectors is anomalous and even more so if that particular product is highly internationalized and thus suitable for being “conceded” to lower-income competitors. Where should this process end? Here Chatterjee and Subramanian introduce their second benchmark. Their normative idea of a global development path is one in which, in due course, low-skill manufacturing exports are distributed in proportion to a country’s share in the global labour force. They imagine, in other words, a world of proportional, polycentric global development without much national specialization in low-skill manufacturing. A useful benchmark is that, in labor-intensive manufacturing sectors, a country’s share of world exports should be broadly commensurate with its share of the world’s low-skilled labor endowment. … In the Heckscher-Ohlin model, this would be true if value added per worker and export propensities, i.e., fraction of output that is exported, are the same across countries. It is this pleasant liberal vista of orderly global development, progressing towards a general distribution of low-skilled manufacturing against which they judge reality and conclude that the low-income countries are suffering a “China squeeze”. China is not exiting low-skill sectors fast enough Allowing for its gdp level and the degree of globalization, China’s share of low-skill manufacturing exports is far higher than it “should” be. Relative to population, its low-skill share of exports is far too high. That in turn yields the conclusion that huge numbers of jobs - the authors suggest tens of millions - are being hoarded by China. For the four sectors captured in figure 4, this excess in value-added exports is $110 billion in 2022. For all low-skilled sectors overall captured in appendix figure D.1, excess value-added exports amount to $365 billion. The crowding out of LMIC exports by China is therefore substantial. Both these claims have in common that they are strong structuralisms. The first is that development paths ought to resemble each other. The second is that broadly speaking as far as low-skilled manufacturing is concerned, all countries are alike. If the world currently diverges from the distribution of trade implied by these assumptions, if China is not following the advanced economy path and has huge exports, this must be the result of “policy”, which the authors then put in question as illegitimate or unfair. Thus the naturalistic construction of a canonical path leading to a “level” distribution of low-skilled manufacturing reveals itself to be a polemical tool. From the point of view of China shock polemics, this discourse is no doubt welcome. But as an account of economic history, it must surely be regarded as nothing short of bamboozling. Development paths do not follow a regular, natural sequence. As David Fishman put it aptly, “development is not a queue”. They are always and everywhere, through and through political. Development is not so much a process, as a project. Each such project is more or less well adjusted to its context. As Gerschenkron taught uneven and combined development implies differentiation rather than simple imitation on a single parth. It may be true that Europe and the US exited relatively early from low-skill work. But clearly technology has changed. As C&S themselves point out, China no longer enjoys a low wage environment. Do they really believe that such huge differences can be accounted for either by industrial policy, which as they admit does not operate powerfully in low-skill sectors, or by exchange rate manipulation? What is overwhelmingly dominant in explaining the persistence of “low-skill” manufacturing in China are surely the network effects of complex supply chains. Indeed the label of “low-skill” may miss the point. The degree of globalization which Chatterjee and Subramanian decide to conjure away in their model of the development path - to allow for the fact that Europe and American textiles exporters did not enjoy just-in-time logistics in the 1950s - obscures the point that the networks through which Chinese factories supply the world are themselves key parts of the low-skill industrialization project. China isn’t knocking out 1970s style “cheap”. It has redefined the entire product cycle. C&S’s casual reference to “T-shirts” is telling. In today’s “fast fashion”, there is weight on both terms. Fashion and fast. China’s success in delivering on both at unprecedentedly high speed and at unprecedentedly low cost, isn’t a low-skill operation at all. If we see development trajectories not as the serial repetition of the same, but as distinctive, crafted projects that cumulate in complex agglomerations of skill, technology and labor, then this explains why the assumption that low-skilled manufacturing should follow the distribution of population flies in the face of all experience. As countless cases attest, low-wage, low-income developed economies are not by themselves the makings of a competitive production base. As Leon Liao puts it quite fairly: “International trade has never been allocated according to population. A country’s population gives it no natural claim to an equivalent share of global exports." And the remarkable fact is that Subramanian alone and with co-authors has long been making this point, not to pillory China, as is the case of the tendentious _Foreign Affair_s and Peterson pieces, but to highlight the great counterpart to China’s industrial success, namely India’s relative failure. The much-quoted Foreign Affairs piece showed low-skill export shares only for China, not for India. If you put both countries in the picture as Chaterjee and Subramanian have done on other occasions, the picture looks like this. China is far above the line, but India, almost as large in terms of population, is no less anomalous, just in the opposite direction. As far as global populations are concerned, and the imagining of tens of millions of “squeezed” jobs, it is this Sino-Indian pair that account for a huge share of the action. What this graph reveals is not China’s cheating, but India’s “greatest development failure”, at least this is the argument made Arvind Subramanian, this time in co-authorship with Devesh Kapur, in their major book, A Sixth of Humanity. Independent India’s Development Odyssey which appeared with Oxford University Press earlier this year. In this highly critical work on India’s development, China is repeatedly evoked, not to criticize but as a benchmark against which to illuminate what India’s political economy has not delivered i.e. large-scale formal employment for hundreds of millions of citizens. Kapur and Subramanian leave no doubt, if you want to understand why China, not India was the main driver of manufacturing globalization from the 1980s, don’t look to slots opening up in the division of labour thanks to the liberal mindedness of advanced economies, look to the contrasting political economy of the Maoist PRC and India’s post-independence political economy. As Kapur and Subramian note: The great divergence between China and India did not begin in 1978 with the Deng reforms—it was well underway by then. In one of the great ironies of modern history, the conditions created by Maoism turned out to be a great launching pad for industrial globalization. As the comparison of India and China in 1980 makes clear, to imagine manufacturing would be equally distributed when populations are so differently endowed in terms of educational and nutritional is fanciful. Here is the data from Kapur and Subramanian, data which I explored back at the very beginning of Chartbook. As Kapur and Subramanian insist, the striking fact is that even as India’s growth accelerated from the 1980s, structural change has not. Formal employment in India lags woefully behind. Why? As Kapur and Subramanian note, the path-dependent impact of India’s poor early start was devastating. The list of factors they mention is long and weighty: We argue for a new five-fold explanation applicable at different stages of Indian history: in the initial stages, the legacy of two key pre-1980s policies, the neglect of agriculture and the strangling of the domestic private sector, were critical. The failure of broad-based agricultural growth militated against rural industrialization, which would have been devoted to satisfying local needs that would have necessarily been labour intensive. Then, when the boom came after 1980, the thicket of regulation and broader labour protections that were legislated prematurely in a nascent democracy, underpinned by a deep ideological aversion to private capital in general and big capital specifically, became a barrier to attaining the size that would be necessary to compete globally. Similarly, the reforms after 1991, while wide-ranging, did not quite encompass non-tradeable inputs critical to manufacturing, namely, land, logistics infrastructure and power. A combination of low investment (logistics infrastructure), regulation (land) and the continued monopoly supply by state governments (power), combined with residual socialism, kept costs at 75–100 per cent above efficient supply. These factors were compounded on the supply side by the government, which dominated the formal labour market and established exorbitantly high wages at the lower end of the skill spectrum. This made their employment in the labour-intensive sector by the private sector less attractive. Finally, when the services sector and its exports boomed, wages soared even further via a Dutch Disease effect: one successful tradeable sector killed and cannibalized another less-skilled tradable sector, namely, manufacturing. Thus, scarcity-inducing policies of the planning era, precocious democracy and a Gandhian aversion to size; inefficient, monopolistic supply of critical non-tradable inputs; the behemoth of government; and super-successful skill-intensive services successively undermined India’s unskilled labour employment opportunities. The employment failure seems to have been over-determined. … Less quantifiable but no less important are some of the sociological factors that have undermined manufacturing and factory jobs. Take the impact of the success of the IT sector—located in urban areas with better working conditions, such as air-conditioned offices, good schools for children and attractive entertainment options. It became a more attractive place for engineering and management graduates to flock to. … Consider manufacturing and female employment. Indian society makes it difficult for women to work, reflected in India’s unusually low female labour force participation (elaborated in Chapter XIII). Indian society, in particular the routine harassment of women in public spaces, makes it even more difficult for them to travel long distances to take up work.37 Combined with onerous regulations on creating hostels and dormitories for women—which, in turn, prevents multiple shifts of operation—factories need to be located in areas with a large female labour pool. While firms can take apparel plants to female labour or bring them to the plants by building large-scale dormitories, this raises costs. If there was a case for subsidies to encourage labour-intensive manufacturing, housing subsidies to build dormitories for women workers would be a good place to start. All of this meant, that when opportunities did open up, in part thanks to adjustments in China, India was in no position to take advantage. Here is the account of the 2020s from Kapur and Subramanian. It stands in dizzying contrast to the one-sided, “China squeeze” argument delivered in the Peterson and Foreign Affairs pieces: In 2022, for example, India’s share of global exports in clothing (the canonical labour-intensive sector) was 3.1 per cent compared to 32 per cent for China. This is extremely disappointing because China started vacating export space in this sector after the Global Financial Crisis as its wages started rising; it then vacated further space in the aftermath of geopolitical developments that led investors to seek alternative investment locations. Between its peak and today, China lost about 7.5 percentage points of global export share (worth about $43 billion in 2022); over this period, India’s export share remained stagnant at 3 per cent, while that of Vietnam and Bangladesh rose by 3.5 to 4 percentage points. China’s loss did not translate into any gain for India in terms of low-skill exports and employment. Put differently, when the conditions for dynamism and prosperity were established after 1991, and even more tantalizingly when the global export opportunities opened up, it was as if India was a high-wage economy and only skilled labour could benefit from the dynamism. It had converted its physically abundant unskilled workforce into an economically expensive resource, penalizing its use. It is not my mission here to argue for or against Kapur and Subramanian’s interpretation of India’s development trajectory. The point in this context is simply that the “China squeeze” such as it is can only be understood, in relation to the heavy burden of domestic constraints that Kapur and Subramanian so unsparingly enumerate. I am concentrating here on India because it is the great counterpart to China and the unspoken reference point of the “China squeeze” discourse. But the point is more general. Can anyone with a straight face suggest that the main problems afflicting the development of South Africa or Nigeria, the great centers of mass underemployment in sub-saharan Africa, are cheap competition from China driven by Beijing’s industrial policy and an undervalued RMB? Likewise, is the main problem of the American working-class the threat of Chinese competition or the manifest crisis of social reproduction in the United States itself? The point here, as in the discourse around China shock 2.0 in Europe, is to insist that we should not normalize the world and pathologize China, without actually investigating what is going on in America’s industrial wastelands, the German car industry, or India’s lopsided labour market. One-sided pathologization should be understood for what it is, a polemical gesture. Concepts like China shock and China squeeze are, what Reinhart Koselleck, following Carl Schmitt, would have described as “asymmetrische Kampfbegriffe”, or “asymmetrical counter-concepts” or “asymmetrical combat concepts”. If the function of arguments like the “China squeeze” is to alert elites in the rest of the world of the need to rejuvenate and energize their development projects, so be it. But let us see the resulting discourses as the mobilizing interventions that they are. Interestingly, a significant slice of China’s public sphere - the so-called industrial party - have been obsessed for the last twenty years with precisely these questions of counterfactual economic history. Since the mid 2000s, a massive online discourse developed around an alternative history in which Chinese techno-patriots were asked to imagine how they would proceed if they had the possibility of traveling back in time to transport modern technology into the Ming dynasty (1368-1644) thus averting the “great divergence” of the 18th and 19th centuries. It is a fantasy of course, but also a goad. The point was not directed at Westerners. The alternate history is dramatically nationalist, but few n the West had even heard of it until recently. The adherents of the industrial party are not liberal moralists. They don’t project natural ladders of international development and ask why others don’t cede space. They take the Realpolitik of global economic development for granted. Their pointe was directed against fellow Chinese. The rallying cry of the alternative narrative was this: Now that we are beginning to gain steam and push forward on our national development path, now that we are breaking out of the inferior position assigned to us even in the early years following WTO accession, do not lose yourself in humanistic imaginings about better futures. In the spirit of Deng, they called on China to embrace the hard truth of development. Perhaps one might of the Industrial Party as a cultural trend born out of desire for symbolic revenge against those who had inflicted the century of humiliation. In terms of the various temporalities of the “China shock” - retrospective, prospective and counterfactual - one might think of the Industrial Policy discourse as truly speculative, conjuring up the China shock that never was. Or perhaps one might better think of it as imagining a world in which a powerful China was no shock at all, but simply a defining fact of modern history. I love putting out Chartbook. I am particularly pleased that it goes out for free to thousands of subscribers around the world. But, writing this newsletter takes a lot of work. If you are enjoying it and would like to support the project, sign up for one of the subscription options here. It is the equivalent of a fancy cup of coffee per month! Subscribe
Connections: Sports Edition today: Hints and answers for Aug. 5, 2026, puzzle No. 681
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
How Texas A&M’s fall sports coaches reacted to the weekend’s court injunction chaos
“Welcome to college athletics these days, where you take one step and then the next one you think it’s going to be sturdy ground and all of the sudden things change,” volleyball coach Jamie Morrison said.
Essentia Health-St. Mary’s Medical Center welcomes emergency medicine specialist Dr. Breanna Nowak
Dr. Breanna Nowak, an emergency medicine specialist, is thrilled to join Essentia Health-St. Mary’s Medical Center.
MrBeast Sales Slow, Angel Stock Falls, MUBI and Neon Look for Hits, and Will an NBA Franchise Set a Sales Record?
(Welcome to the Entertainment Strategy Guy, a newsletter on the entertainment industry and business strategy. I write a weekly Streaming Ratings Report and a bi-weekly strategy column, along with occasional deep dives into other topics, like today’s article. Please subscribe.) You probably remember egg prices spiking a few years ago. This led to a lot of debate between the pro-market/pro-competition/antitrust/Neo-Brandesian crowd and the center/center-right/center-left/abundance/libertarian crowd over the cause, whether it was the avian flu outbreak or whether industry consolidation led to price fixing, using avian flu as a convenient cover. Basel Musharbash wrote a whole investigation at BIG looking at it. Well, two years later, we have our answer: it was price fixing. The Justice Department found proof, via emails, of price fixing. Indeed, just the threat of an investigation brought prices down two years ago: I bring this up because at least half a dozen of my favorite political writers and pundits, who were skeptical about price fixing at the time, haven’t written any mea culpas on this issue. It’s really dispiriting and makes it much, much harder to trust their work on other issues. If you take a hard stand on an issue, then you get it wrong, you need to explain how and why you got it wrong. Or update your priors. This is how epistemological bubbles are formed! All of which is to say, it’s time for another installment of “What I Got Right, What I Got Wrong”. Last issue, I mostly focused on the “wrong” side of the equation, so today’s is a bit more balanced, but with one big mea culpa (though I still stand by my original concerns). Let’s dive right in! Subscribe CORRECTION: UFC Didn’t Release Subscriber Data (But Seems to Have Bragged About It Internally) In my analysis of the viewership of UFC Freedom 250, I wrote... “Paramount has also released datecdotes bragging about their subscriber numbers. Earlier this year, they claimed that the first UFC fight on Paramount+ brought in 1 million subscribers.” Well, that datecdote did not come from a PR rep, but from great reporting from James Faris at Business Insider. The actual quote was this: “Paramount’s flagship streaming service generated about a million new subscribers on the day of its first-ever UFC event, Paramount product chief Dane Glasgow told employees in a town hall on Tuesday morning, three staffers who attended the meeting told Business Insider.“ This wasn’t the biggest goof in the world; even Faris emphasized to me that this is more a “clarification” than a correction. Still, it sounds like, internally, the folks at Paramount were very happy about this result—and I’m guessing they were happy with this news getting out—even though the gains didn’t last through the quarter, dropping to 700K adds. RIGHT: MrBeast’s Struggles Continue... I’m very skeptical about MrBeast’s burgeoning media “empire” and, in particular, its $5 billion valuation, as I wrote earlier this year and last year. Sure enough, according to Business Insider, regarding its “booming” consumer products division_:_ “US sales volume grew 13% year-over-year in 2025, following a 33% leap the previous year, according to a presentation deck dated May 2026....A February 2025 investor deck viewed by Business Insider showed Feastables’ net revenue more than doubled in 2024 from 2023, to $215 million, and was forecast to grow 74% in 2025, to $375 million.” [Emphasis mine.] If you told investors that you projected 74% growth but delivered 13%,1 that’s not ideal. But it’s not just MrBeast. Logan Paul and KSI’s Prime had sales drop in half for their energy drinks. It’s one thing to build a successful entertainment company and an entirely different thing to succeed in the heavily-consolidated-but-also-very-competitive consumer packaged goods space! CPGs are dominated by a few firms with very wide moats compared to YouTube, which has few barriers to entry. These businesses require different skill sets and have completely different business environments. WRONG: Does the NBA Have an $8 Billion Bidder? Almost as soon as I published my article about the NBA’s finances, casting skepticism on NBA expansion, I saw this Front Office Sports headline: One group “claims to have already raised $8 billion” for the Vegas expansion team. I mean, wow. That’s just $2 billion less than what the Los Angeles Lakers were valued at when they were sold just last year. And they’re arguably the most popular team in the NBA. (Side note: the new owner is now under an investigation for fraud in how he went about financing the Lakers and the Dodgers purchases.) So much for the “dried up” language I used in that article. (This is why I usually stick to my “Entertainment Nuance Guy” tone in articles...) I went off old information—from April, when I read/heard about the NBA downplaying expansion efforts—instead of doing a quick double-check for new news. That said...if you read the article, the market for Seattle is “slow”, with just one reported bidder. So I wasn’t entirely off. This goof has annoyed me since I first published it, mainly because it undercut that article’s real point, which I stand by: NBA franchises are really overvalued right now. Now, I get why NBA teams are overvalued. When it comes to owning sports teams, it’s basically never wrong to assume that some rich person somewhere will care more about owning a team (or just being part of a group since they’re so expensive) than the actual financials. There are only so many teams to own, and opportunities to buy in preferred markets don’t come along very often. This explains why the teams sell for such high multiples (usually above a 10 to 12.5 revenue multiple, which is very high). You only need one person to overpay! Beyond the ultra-wealthy luxury good explanation, I worry NBA teams are becoming speculative assets. More and more private equity investors are buying into NBA teams. But the value, in owning a team, comes from selling it later, not any meaningful relationship to revenue or profit growth. In other words, the newer NBA owners are increasingly expecting someone later to buy their inflated asset. That’s not sound economics; that’s the “greater fool” theory at work.2 At some point, actually making money has to matter. Especially since revenue growth is now below the growth of the stock market. (And this matters because the NBA doesn’t have easy levers to pull to drastically lower their costs—half of their revenue has to go to players and then you actually have to run a team, including coaching, training, travel, media expenses, and more—or raise revenues aside from one-off expansions in America and overseas.) I just don’t see how investors make their money back buying NBA teams, except for selling at a higher price later on down the line. But if revenue/profit growth continues to slow, at some point, someone will be left holding the bag. RIGHT: Baseball and Basketball are about equally popular. Related to the above, I wanted to cite two quick pieces of evidence for one of my other theories: that the NBA and MLB are about as popular as each other, but the NBA gets much, much better media coverage. One YouGov survey has that fans prefer basketball to baseball by 52% to 48%, which I’m guessing is within the margin of error for that poll. That’s virtually even, meaning they’re about the same popularity. Over on NBC, a recent Red Sox-Yankees game averaged 4 million viewers, higher than Sunday Night Basketball’s average of 3.4 million on the same network. A Yankees-Dodgers game averaged 3.9 million two weeks ago. Not every game averages this much, but it shows you that baseball isn’t far off from basketball, depending on the matchup. Altogether, the NBA is just slightly more popular than baseball, but NBC is paying MLB a fraction of what they pay the NBA, a point I’ve made before. RIGHT: Angel, MUBI and Neon Updates... I’ve long been skeptical about many of Hollywood’s buzziest startups/smaller indie studios. It’s not that they don’t make great movies—films like Anora and Everything Everywhere All at Once are amazing—or that they’re not (rightfully) pushing the majors to make better films, but...they get a ton of hype, and that hype often doesn’t live up to the reality or difficulty in scaling up. Starting with MUBI, well, The Wall Street Journal wrote a feature on MUBI’s struggles last April, best summarized by the subheader “After Sequoia valued Mubi at $1 billion, a left-wing revolt sent the indie film company into a tailspin”. MUBI lost $7.3 million on $200 million in revenue in Q4 2025, but reportedly hit a record 1.7 million subscribers at the end of Q1. As for Neon, Department M purchased a “significant stake” in the company earlier this year. How much is that “stake” worth? According to Deadline, “No financial figures for the Neon-Department M deal were disclosed.” So...that’s not great! If it was a big valuation, we’d hear about. Also, I found this curious: “Both Neon and Department M already have separate partnerships with Qatar. The Qatar Film Committee has a slate deal in place with the former, and a biopic production pact with the latter.” Color me skeptical about much Middle Eastern investment dollars. See: LIV Golf. Finally, as for Angel (formerly Angel Studios), their stock very, very slightly popped last month after Young Washington ($20 million budget) which made $45 million in the US, but their stock is still way down from its opening. Smaller Updates RIGHT: The WGA should focus on antitrust concerns! I’ve been on this for years. Post-WGA/AMTPT deal in 2023, I wrote an article for the Ankler calling on the WGA to focus and organize against industry consolidation. Sure enough, the WGA filed a lawsuit against the Paramount-WBD merger, and people are organizing around this issue now. I wish this energy had coalesced earlier (specifically to lobby Washington much earlier), but better late than never! WRONG: Actually, the chip shortage might be due to market manipulation. In my last “Long Reads for the Long Summer” article, I shared an article about how LLMs are causing memory chip prices to spike, which will make all electronics more expensive. Well, turns out, three RAM manufacturers control 90% of the market, and now a private lawsuit accuses them of price-fixing. So yeah. WRONG/UPDATE: The Odyssey will hold! Two weeks ago, I wrote, “As of this moment, we haven’t had a super-blockbuster, though The Odyssey, Spider-Man: Brand New Day and Avengers: Doomsday could all cross the $500 million mark. (At this point, The Odyssey would need a very strong hold to get there.)” Well, it’s safe to say it’s going to have that hold! It only dropped 30% in weekend two and IMAX screenings are sold out all month. Spider-Man: Brand New Day is also off to a great start. RIGHT: People are rushing to get shows out yearly. I’ve long been bullish on yearly, weekly-released shows, and Leslie Goldberg at The Ankler wrote about how many people in town are now listening. WRONG: Mark Carney reverses Canada’s stance on homegrown production. After writing about Canada installing domestic production quotas, Canada has backed off. WRONG: I don’t trust Spider-Man: Brand New Day’s online “views”. When I originally wrote about the latest Spider-Man film’s record-breaking trailer, I thought this was just YouTube views, but after watching this Corridor Crew video and doing more research, well, it’s all social views of the trailer globally. Really? That stat includes TikTok, Reels and YouTube Shorts views. Basically, I don’t trust it anymore. (This film will probably set record, but I trust the pre-sales data more.) RIGHT: Celebrity Production companies are still struggling. I’ve written about this for years, but the company that I didn’t track was Kevin Hart’s HartBeat, which was valued at $650 million but is struggling now and might just end soon, especially after Kevin Hart pulled his endorsement deals. And Bad Robot is moving to NYC. CORRECTION: SpongeBob is a “second run” title. In my 2025 recap article, I had _SpongeBob SquarePants_labelled as a “library” title, when it is still a “second run” show, with new episodes still coming out on Nickelodeon. CORRECTION: In my last “What I Got Right, What I Got Wrong” update, I offered a correction from Doug Creutz and misspelled TD Cowen. Thanks, Grammarly! 1 Though he could have increased prices to make up for the gap, he couldn’t have increased them that much. 2 There’s a theory, which I think that Daryl Morey created and Bill Simmons popularized, that, to be successful building your team, you only need a handful of bad GMs in the league to take advantage of. To be clear, Daryl Morey’s theory was also for signing bad contracts, that you could always get out of bad contracts. Basically, there’s always someone who will make a bad trade. It’s not the same exact thing, but similar enough to the Greater Fool Theory that I really like it.
Graduate School of Management to host annual Welcome Reception, August 25
Students, alumni, faculty and staff are invited to celebrate the start of a new academic year.
CIM welcomes Between the Lines for special sports event
The Between the Lines foundation brought “Beyond the Lines Travel Beyond the Walls” to California Institution for Men (CIM) at Chino.
At colleges, the AI boom means everyone wants to dabble in computer science
As enrollment in traditional computer science programs declines, universities across the United States are rapidly expanding artificial intelligence education to include students from diverse majors like music and psychology.
SGMC Health Welcomes Holli Spikes, DO, Emergency Medicine, to Medical Staff
SGMC Health welcomes Emergency Medicine physician Holli Spikes, DO, to its medical staff. A South Georgia native, Dr. Spikes returns home to provide emergency care for the community that played a significant role in shaping her life and career.
Connections: Sports Edition today: Hints and answers for Aug. 4, 2026, puzzle No. 680
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
Talking politics with Pat Brady: Chicago mayor's race, Illinois House Speaker Welch on the hotseat
Microsoft warns travelers amid hospitality-related Wi-Fi hacks
Microsoft is warning travelers to be cautious when connecting to hotel Wi-Fi networks after identifying a campaign in which hackers use fake login pages to steal account credentials. The warning comes as many Granite Staters head out on vacation or welcome visitors staying at hotels across New Hampshire.
Ernst Names Small Business of the Week, Present Company
Read the release on Sen. Ernst's website here. Throughout this Congress, Chair Ernst plans to recognize a small business in every one of Iowa’s 99 counties. RED OAK, Iowa – U.S. Senator Joni Ernst (R-Iowa), Chair of the Senate Small Business Committee, today announced her Small Business of the Week: Present Company of Audubon County. Throughout the 119th Congress, Chair Ernst plans to recognize a small business in each of Iowa's 99 counties. "Present Company has been the gift that keeps on giving to Audubon for more than three decades," said Chair Ernst. "From helping revitalize Main Street to supporting countless local events and charities, Telia Carter and her team continue to present the very best of Iowa's entrepreneurial spirit. Their commitment to exceptional service, unique products, and hometown values proves that investing in your community always comes back around." Founded in 1990 by Nancy Oleson, Present Company opened its doors in downtown Audubon as a home décor boutique. After more than three decades of serving southwest Iowa, ownership transitioned in 2022 to Telia Carter. Under her leadership, Present Company has continued its tradition of personalized customer service while adapting its inventory to meet the needs of customers from Audubon and the surrounding communities. Today, Present Company remains a downtown Audubon staple, offering a carefully curated selection of gifts, home décor, apparel, jewelry, and specialty items. The boutique has earned a reputation for unique merchandise, friendly service, and a welcoming atmosphere that reflects the character of small-town Iowa. Stay tuned as Chair Ernst continues to recognize outstanding Iowa small businesses with her Small Business of the Week award. ###
Carmen Schools of Science & Technology Northwest Comes to the Harambee Neighborhood
More than 300 people came out on Saturday, July 25 to welcome Carmen Schools of Science & Technology Northwest to the Harambee neighborhood. The free block party attracted community leaders, neighbors, students, families, and alumni to the school’s new campus at 3215 N. Dr. Martin Luther King Jr. Drive. Carmen Northwest Principal Ashlei Miller cut […]
Augusta Health Announces Internal Medicine Residents Class of 2029
New Psychiatry Residency Program Approved to Help Meet Growing Behavioral Health Needs FISHERSVILLE, VIRGINIA — Augusta Health is proud to welcome its third class of Internal Medicine residents. On July 1, fifteen new resident physicians began their training, continuing Augusta Health’s commitment to developing the next generation of healthcare providers for our community. The new […]
Business Notes: Williamsburg’s Midtown Row welcomes two new restaurants
New restaurants in Midtown Row, Yarn Matters celebrates 10 years and York County names new assistant county administrator.
Business Notes: Williamsburg’s Midtown Row welcomes two new restaurants
New restaurants in Midtown Row, Yarn Matters celebrates 10 years and York County names new assistant county administrator.
Debt Digest | Federal Debt is a Health Care Problem
Welcome David Ditch to the Debt Dispatch! We are pleased to announce a new regular contributor: David Ditch will be joining the Cato Institute as a Policy Analyst for Budget and Entitlement Policy later this week. David has more than a decade of experience in fiscal policy issues, with a particular focus on federal spending. He previously worked at the Senate Budget Committee, the Heritage Foundation, and the Economic Policy Innovation Center. David’s areas of expertise include appropriations, transportation, agriculture, federalism, grantmaking, and policy options for deficit reduction. Originally from the Rochester, N.Y. area, David has a BA in Economics and Political Science from the University of Rochester and a MA in Political Management from George Washington University. David currently lives in Arlington, VA. You may have enjoyed his earlier guest posts: CBO: New Highway Bill Has More Spending, Taxes, and Deficits Trump Administration’s Proposed Changes to Federal Grants Highlight Problems of Big Government Here are this week’s reading links and fiscal facts: The federal debt is largely a health care problem. In a new report, the Congressional Budget Office and Joint Committee on Taxation find that “In 2026, federal subsidies for health insurance, net of related payments to the government, are projected to equal $2.4 trillion, or 7.4 percent of gross domestic product (GDP). In CBO and JCT’s projections, those subsidies grow by 65 percent, reaching $3.9 trillion, or 8.4 percent of GDP, in 2036. Subsidies for Medicare contribute most to that overall growth, increasing by $900 billion. Over the entire 2026–2036 period, federal subsidies for health insurance total $33.6 trillion.” Cato’s Michael Cannon emphasizes, “The long-term federal debt problem is a health care problem. […] Only two categories of federal outlays will grow faster than gross domestic product (GDP): health care subsidies and interest payments on the debt. The former is, therefore, the primary driver of the latter.” The bond market fears deficits, not the loss of tariff revenue. Responding to a New York Times essay claiming tariff revenue has grown too important for a future administration to unwind, Cato’s Kyle Handley argues: “Bond investors are not attached to customs duties as a line item revenue source. They care about the government’s overall fiscal position.” He continues, “tariff revenue is a side hustle. And the Trump administration has already promised to dole out the funds through schemes like tariff dividend rebates, farm subsidies, and pay-fors on tax cuts or other spending.” Furthermore, “tariff revenue is simply not large enough to transform the government’s fiscal trajectory.” Take net interest for example: it “reached $970 billion in fiscal year 2025, absorbing 18.5 percent of federal receipts. Customs duties accounted for only 3.7 percent of receipts—and that was before refunds (see Figure 2).” Handley concludes, “The real bond-market concern is a large and growing interest bill, persistent budget deficits, and a political system unwilling to bring spending and revenue into alignment.” Medicare’s spending growth is driven by more volume and utilization. A Congressional Research Service report finds that Medicare spending “grew at an average annual rate of 7.3%” from 1985 through 2025, and the trustees project health care expenditures will keep rising “faster than gross domestic product (GDP) in most future years.” Citing CBO, the report attributes Medicare’s projected 2026–2036 spending growth to “23% from higher enrollment, 31% from inflation, and 47% from the growth of inflation-adjusted spending per beneficiary. In other words**, the largest single driver of Medicare spending growth during the next decade is expected to be higher volume and intensity of health care services.”** Boccia and Thakur explain: “as the economy grows, Medicare spending tends to grow at least as fast—and often faster—because the program automatically pays the bill for more and more healthcare consumption by seniors, even as prices rise.” The Fed has little control over market interest rates. Cato’s Jai Kedia documents that the Fed has held its rate target steady since December, yet “nearly every rate Americans actually borrow at has climbed over the same stretch.” Kedia continues, “The Fed did nothing, and the cost of credit went up anyway. […] Markets spent these months repricing macroeconomic events such as sticky core inflation, a volatile energy market driven by the conflict in the Middle East, and global trade disrupted by tariffs, among others. None of that required a policy change to show up in borrowing costs because markets, not the FOMC, set prices.” He concludes, “Accurately priced borrowing rates will come from credible disinflation and disciplined budgets and from a Fed content to follow the economy rather than pretend it leads it.” Nearly half of US farm income comes from taxpayers. Former Reagan OMB director David Stockman notes that “in the most recently completed full year (FY 2025) farmer incomes in the US totaled $97.8 billion, but fully 42.7% or $41.8 billion of that amount came from taxpayers, not the marketplace. Nor is this some kind of one-year aberration. If we look at the most recent decade as a whole, total farm income posted at nearly $708 billion, but, as indicated, fully $322 billion or 45% of this came compliments of US taxpayers.” Cato’s Chris Edwards explains why so little of that income is market-earned: “Farmers are businesspeople, but the government shields them from just about every type of weather and market risk. Furthermore, just about every part of the agricultural industry is subsidized, including insurance, loans, marketing, research, export sales, and land improvements.” The Debt Dispatch is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe
Eagles training camp notebook: Welcoming King James to Philly
In the latest Eagles training camp notebook: Welcoming LeBron James, Howie Roseman’s history of trades and more.
The Bulletin welcomes Sharon Weinberger as editor-in-chief
The Bulletin’s new editor-in-chief, Sharon Weinberger, has dedicated her career to covering the intersection of science, technology, and national security and will guide the Bulletin’s editorial efforts as it enters its eighth decade of informing the public on catastrophic risks.
A historic moment during another major drought
Gustav Sumnick emigrated from Germany, traveled to Oklahoma and decided rather than be a Sooner, he wanted to be a farmer. He moved north to Nebraska and married an Irish immigrant farmer’s daughter. They farmed near Fremont, Nebraska, where the Platte and the Elkhorn rivers meet and grew the family farming operation to more than […]
NSE Closing Auction Session, Yen intervention, Q1 results, $20 billion IPL Business and more
Hello and Welcome to the CNBC-TV18 Newsletter. Today, we take a look at NSE's Closing Auction, Japanese Yen's intervention, Q1 results, IPL's $20 billion business, Morgan Stanley bets on KOSPI, LEAP India IPO and more.
Connections: Sports Edition today: Hints and answers for Aug. 3, 2026, puzzle No. 679
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
49ers’ Deebo Samuel Gets Blunt on Ricky Pearsall’s Injury
On August 1, the San Francisco 49ers announced that Ricky Pearsall’s 2026 NFL season is over before it even began. The Niners put Pearsall on season-ending injured reserve as the wide receiver continues to deal with a posterior cruciate ligament injury in his right knee.Moreover, on July 30, the 49ers decided to welcome back a […] The post 49ers’ Deebo Samuel Gets Blunt on Ricky Pearsall’s Injury appeared first on HEAVY.
Photo story: Science Saturday Connects Families with Nature Through Hands-On Learning
The Savannah River Ecology Laboratory (SREL) at the University of Georgia welcomed families, students, and nature enthusiasts to a successful Science Saturday on August 1st, 2026 at the Riverview Park Activities Center in North Augusta. Held from 10 a.m. to 1 p.m., the free community event brought together visitors of all ages for an fun […]
Here’s when One UI 9.0 Beta 5 update could release
Official One UI 9.0 will begin rolling out next week, but Samsung plans to release the Galaxy S26 Beta 5 update as well. Internal testing is reportedly underway, and users are expected to welcome the next Beta this August. On July 22, Samsung showcased One UI 9 full experience at the Unpacked event. It comes […]
Connections: Sports Edition today: Hints and answers for Aug. 2, 2026, puzzle No. 678
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
Overnight News Digest: Science Saturday, 8/1/26
Welcome to the Overnight News Digest with a crew consisting of founder Magnifico, regular editors side pocket, maggiejean, Chitown Kev, eeff, Magnifico, annetteboardman, Besame, jck, JeremyBloom…
Connections: Sports Edition today: Hints and answers for Aug. 1, 2026, puzzle No. 677
Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores.
CMS Administrator Oz Joins Governors and NGA to Advance Rural Health Transformation and Address Medicaid Program Integrity
OKLAHOMA CITY – The National Governors Association (NGA) today welcomed Centers for Medicare & Medicaid Services (CMS) Administrator Dr. Mehmet Oz for discussion to advance the Rural Health Transformation Program (RHTP) and address Medicaid program integrity in states across the country. Tennessee Gov. Bill Lee facilitated the wide-ranging conversation during NGA’s annual Summer Meeting in Oklahoma City. “With […]
City of Mercedes welcomes families to free science event
HARLINGEN, Texas (ValleyCentral) — The city of Mercedes is inviting the community to its annual Earth X Space celebration. The free family-friendly event celebrates science and community building t…
The Streaming Bubble Keeps Popping
(Welcome to the Entertainment Strategy Guy, a newsletter on the entertainment industry and business strategy. I write a weekly Streaming Ratings Report and a bi-weekly strategy column, along with occasional deep dives into other topics, like today’s article. Please subscribe.) One of my rules is “never bet against PE [private equity]”. This isn’t to say that I agree with their methods or tactics or strategies or financial innovations (aka shenanigans). Just that in the long arc of financial history, they’ve tended to return very good returns to their shareholders. That said, their forays into entertainment have left me...skeptical. I’ve written before about PE’s production company/celebrity production company roll ups, and those haven’t really worked out. Some PE groups tried to “roll up” an industry that isn’t “roll-up-able” for lack of a better term—since the barrier to entry for starting a production company is very low—often paying top dollar for celebrity production companies at the height of streaming valuations. So yeah maybe we can bet against PE when they venture into filmed entertainment. I’ve also noted that studio lots seemed to be a bubble back in 2022. Sure enough… Yikes! That sure sounds like some private equity guys lost some money. The only caveat being that holding a lot of land in Los Angeles is always valuable. But that wasn’t the pitch and likely real estate investment companies overpaid for said land. I mean, Goldman Sachs had to repossess it after all. (Technically, I’m not sure these buyers were traditional private equity, but PE was buying LA studio lots earlier this decade.) All to say: I call out bubbles when I see them, and they often pop. Anywho, my most famous bubble call was the “streaming bubble”, specifically that the major streamers were making too many shows and films. And that it could all come crashing down. Notably, I made this call before the strikes of 2023, but those strikes potentially accelerated the popping. And now it has indeed popped. One of my most popular articles of last year made that exact case. A year later, it’s time to update that analysis. The bottom line is that the streaming contraction continues. Credit where credit is due, Luminate—an analytics company whose data I use weekly in my streaming ratings report—called this out in a recent report I saw highlighted in both Bloomberg and The Hollywood Reporter. But I’m adding my data to their look, including streaming films and kids TV shows. I’ll also provide some other data that all tells the same picture. Let’s dive in! Subscribe The Number of Streaming TV Shows, Films and Specials Is Declining AGAIN in 2026 Let’s get right to the data, starting with my dataset. Specifically, each week I track every “notable” title to come out on streaming. I try to grab every title on every major streamer, meaning if it’s a first run or original or exclusive, I track it. This helps me call out the “dogs not barking” and the misses/flops each week. So that will be our first series of charts, my weekly collection data. Let’s start with the raw TV show, film and special data, by week. Note: As the years have gone by, I have actually added more sources (going from just one source to five sources) to find new titles, meaning that this data collection is, likely, more accurate now than in the past. Which means my team and I are more likely to have undercounted titles in the past rather than today. I like to cut the data several different ways. Here’s that same look, by quarter, to more sharply show the trends: And here’s the data just looking at the first half of each year. That’s the same data, just cut three different ways with three different time periods. Note that films, TV shows, and specials are all down by 25%, 42% and 17%, respectively, from 2022. The good news is that the number of films and specials actually increased year-over-year from 2025 to 2026, but not enough to offset the 25% decline in TV shows. Now, I also look at kids shows, and here they are pulled out on their own: And here’s that by quarter: This really seems to be a notable area of pullback by the streamers. Kids shows are down 80% from 2022. This reflects some formerly Disney+ shows going to cable TV first, but also pullbacks from HBO Max, Prime Video and Netflix. I also categorize the TV shows by English language and non-English language, and that also reveals a lot of where the drop comes from: And here is by the half-year: In this look, the good news is the drop for English language shows seems to have stabilized in the last year. But the bad news is the long term decline from the 2022 peak. Other Data So I wasn’t the only person to notice this decline in the number of shows. I have a few other data sources for this, though most only go through the end of 2025. As I said, Luminate beat me to the punch, so let’s look at their data. We’re just getting started with this issue, but the rest is for paid subscribers of the Entertainment Strategy Guy, so if you’d like to find out… What TV loss streaming didn’t make up for... How Netflix has changed their programming slate over time… Ten more images charting the decline of production... What type of films aren’t being made anymore... The good news (for movie theaters)… And more... ...please subscribe! We can only keep doing this great work with your support.
Annual Polish Festival in New York Mills
The annual Sacred Heart-St. Mary Our Lady of Czestochowa Catholic Church Polish Festival is getting ready to welcome visitors.
Support Schumer's Anti-Corruption Bill; Reverse the Corrosion of American Politics
July 31, 2026 – In response to Sen. Schumer’s announcement of new legislation to create an Anti-Corruption Bureau, the Center for International Policy Senior Nonresident Fellow Casey Michel issued the following statement: “We welcome Sen. Schumer’s push to place anti-corruption efforts front and center for Democratic reforms. We also commend the bill for taking aim far […]