🏆🤖The US Could Experience a “Permanent Primary Deficit”

THE PROFITS💸

Good morning Opportunists, we’re diving into topics shaping the future. First, the U.S. could be heading toward a “permanent primary deficit,” raising big questions about the future of the economy. Next, flying cars are no longer a dream—FAA regulations just paved the way for air taxis and futuristic transport. Finally, the housing market continues to cool, with sales hitting lows not seen since 2010. Buckle up, it’s going to be a ride!

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Trending US Money News

The US Could Experience a “Permanent Primary Deficit”

Researchers at the Federal Reserve Bank of Minneapolis suggest that a government could maintain a “permanent primary deficit” by banning or taxing Bitcoin. They argue that if large consumption taxes are unfeasible, prohibiting or taxing Bitcoin could help the government finance its purchases and maintain economic stability, using Bitcoin as a metaphor for a fixed-supply private sector security. [Source]

What is Going on with Suno, the $500 million AI Company

In June, Suno, a $500 million AI company, was sued by major record labels for allegedly using their recordings to train AI without permission—a claim they later admitted in court. Despite the lawsuit, Grammy-winning producer Timbaland has partnered with Suno as a strategic advisor, praising the platform for opening new opportunities for artists, and is launching a remix contest on the platform, with over $100,000 in prizes. [Source]

Science and Technology

Quantum Entanglement: Quantum physicists have discovered how quantum entanglement forms in mere attoseconds, using lasers to entangle electrons and measure their interactions at incredibly brief time scales. This breakthrough could lead to major advances in quantum computing and cryptography by offering deeper control over quantum systems. This could lead to better cybersecurity and breakthroughs in newer tech. [Source]

Flying Cars: The FAA has released final regulations for electric vertical takeoff and landing (eVTOL) vehicles, marking the first new aircraft category since helicopters in 1940, aimed at revolutionizing air travel with services like air taxis and cargo delivery. These rules establish pilot training requirements, operational guidelines, and a framework for certifying powered-lift aircraft, with companies like Joby Aviation and Archer leading the charge to bring commercial air taxis to market. [Source]

New Prime Number Discovery: The largest known prime number, (2^136,279,841)-1, was discovered with the help of former Nvidia engineer Luke Durant and the Great Internet Mersenne Prime Search (GIMPS), using the power of data center GPUs for the first time. This breakthrough highlights not only the evolving role of GPUs beyond AI but also their capacity to handle complex simulations and cryptography, and with expectations that even larger prime numbers may be found sooner with advancing GPU technology. [Source]

Business & Markets

The Stock Market: Major U.S. indexes dropped on Wednesday, with the Nasdaq leading the decline, losing 1.6%, while tech giants like Nvidia and Meta saw sharp falls. McDonald’s dropped 5.1% amid an E. coli investigation, while Treasury yields rose to a three-month high, reflecting investor uncertainty over future Federal Reserve interest rate cuts. [Source]

Tesla Stock: Tesla's third-quarter earnings beat expectations, with net income rising to $2.17 billion and margins improving to 19.8%, sending shares up over 8% in extended trading. Despite recent stock declines after a disappointing robotaxi event, Tesla reaffirmed that plans for new, more affordable vehicles remain on track for production in 2025. [Source]

The Housing Market Slump: In September, existing home sales dropped to their slowest pace since 2010, despite increased listings and lower mortgage rates compared to last year. Although the job market remains strong and more inventory is available, affordability and election-related uncertainty are keeping many buyers hesitant, with median home prices still rising by 3% year-over-year. [Source]