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Miami urgently needs to invest in mass transit if they’re serious about becoming the next great metropolis in the country. But that clashes with the people who actually run the city because they own the political system: the big car dealers and the developers who build the infrastructure for those cars.

The slowest-moving but perhaps most important chart in housing — the effective interest rate on all mortgage debt outstanding ticked up another 4bps in Q4 2025. Housing can’t meaningfully boost the economy until current mortgage rates are closer to this rate:





I FOUND THE CYBER KIRK


Full-scale military operations appear to be underway against Venezuela, with dozens of helicopters with the U.S. Army spotted over the capital of Caracas.





























