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Spiking Oil Prices Don’t Make Bessent a Hedge Fund Manager (Again)

2026-03-18 20:00:04

In the shadow of the Iran war, with crude hovering around $100 a barrel, the allure of finding a quick fix to energy inflation is understandable. But intervening directly in the financial markets by taking a bearish short position in oil — which the US Treasury says it’s been discussing — would be a terrible idea. Economics and history both scream the same message: The US shouldn’t do it.

How Southwest Got an Edge Over Struggling Low-Cost Rivals

2026-03-18 19:30:04

Competition at the largest US airports is ferocious. Large airlines have claimed most of these busy airports as hubs and fine-tuned how to defend their turf from low-cost carriers.

Can Markwayne Mullin Clean Up Kristi Noem’s Mess?

2026-03-18 19:00:05

Shortly after Oklahoma Senator Markwayne Mullin heard that President Donald Trump had picked him to be the next secretary of the Department of Homeland Security, he told reporters there were “opportunities to build off things that didn’t go as planned” for his predecessor Kristi Noem.

Private Credit Is Bad, But Not 2008 Bad

2026-03-18 18:50:00

Will the growing troubles in private credit precipitate a broader financial crisis? As a veteran of the 2008 subprime lending meltdown, I’m extremely hesitant to say no. Nonetheless, I don’t think it’s likely.

Homebuyers and Builders Look Ready for a Truce

2026-03-18 18:00:02

There’s been no love lost between builders and buyers in the entry-level housing market over the past five years. Good news for one was invariably bad news for the other. But we finally seem to be hitting a sweet spot where both sides can be cautiously optimistic.

A Cuban Capitalist Conversion Won’t Unlock Democracy

2026-03-18 17:30:08

The White House’s playbook for Cuba is now unmistakable: strip away the regime’s public face to secure a decisive strategic advantage while stopping short of outright regime change.