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🚨 BREAKING: China’s new unmanned cargo aircraft, the Changying-8 (CY-8), is preparing for its first flight, set to become the country’s first drone in the 7-ton class. The aircraft will conduct its maiden test at Zhengzhou Shangjie Airport.

Regarding recent press coverage

Bear Stearns didn't collapse because of "market failure"—it collapsed because the Federal Reserve spent decades pumping artificial credit into the economy, distorting risk calculations across Wall Street. When reality finally hit in March 2008, the investment bank that had gorged itself on mortgage-backed securities became the first major casualty of a crisis entirely manufactured by central banking. The Fed had held interest rates at absurdly low levels following the dot-com crash, driving investors desperate for yield into increasingly risky assets. Bear Stearns leveraged itself 35-to-1 by 2007, a ratio that would be suicidal in any honest market but seemed rational when cheap money flowed like water. The bank's hedge funds collapsed in summer 2007 after betting heavily on subprime mortgages—investments that only made sense in the Fed's artificially stimulated housing bubble. When Bear's stock price plummeted from $172 in 2007 to $30 in March 2008, the firm faced a classic bank run. But instead of allowing creative destruction to work—letting bad actors fail and good capital reallocate efficiently—the Fed orchestrated a bailout disguised as a sale to JPMorgan Chase for $10 per share. They sweetened the deal with a $29 billion taxpayer backstop for Bear's toxic assets. This intervention set the catastrophic precedent for everything that followed: AIG, Lehman, TARP, quantitative easing, and over a decade of zero interest rate policy. The Fed transformed a necessary market correction into a systemic crisis by preventing price discovery and moral hazard from functioning. Bear Stearns should have been a cautionary tale about central banking's inevitable boom-bust cycles. Instead, it became the opening act for the greatest monetary experiment in human history.