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Jason Ma

Jason Ma

Fortune

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So much ‘liquid gold’ could hit the market that the world’s top producer is withholding output—but supplies can’t stay ‘extra virgin’ for long

Spanish olive oil production is projected to jump 23% to 1.6 millions tons, marking the fourth-largest harvest ever.

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Fortune

Jason Ma

Florida’s new property tax cuts could defund the police, fire fighters and EMS in small towns, threatening ‘rural dark ages,’ former GOP lawmaker says

"A thinner tax base means fewer services. The dark ages won’t arrive all at once. They’ll arrive one closed fire station at a time."

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Fortune

Jason Ma

In-N-Out’s billionaire owner vows iconic chain ‘will always be’ in California and says leaving the state would be the ‘dumbest business decision ever’

"This is where we started. It's where we are now, and it's where we will always be," Lynsi Snyder, president and owner of In-N-Out, said.

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Fortune

Jason Ma

Berkshire Hathaway stock is a haven again as investors flee AI bloodbath while its own portfolio takes a hit amid reshuffling

Berkshire bought $2.4 billion of stocks during the third quarter and sold some $2.8 billion.

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Jason Ma

Voters in Silicon Valley rejected the billionaire wealth tax while those in Los Angeles and San Francisco—home to the two top AI companies—wanted it

"A 'no' vote doesn't mean similar measures won’t ever be implemented."

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Jason Ma

Trump personally chose several candidates who just got crushed — and he’s already blaming Republicans for a stunning midterm wipeout

"I wasn’t on the Ballot and if I was, we would have won IN A LANDSLIDE!"

03.11.2026 8

Fortune

Jason Ma

Stock futures plunge as blue tsunami hits red states and data center hot spots. Wall Street usually likes political gridlock—but maybe not this time

"A Democratic sweep could complicate negotiations over government spending and the debt ceiling."

03.11.2026 8

Fortune

Jason Ma

The AI boom is facing another supply crunch. This time it’s the amount of capital available to feed Silicon Valley’s endless need for cash

"Now, another concern is moving to the forefront: Does enough capital even exist to finance everyone's ambitious AI spending plans?"

02.11.2026 9

Fortune

Jason Ma

As Trump eyes new attack, Iran vows to retaliate beyond the Mideast and target financial assets, while oil markets brace for generational damage

On Saturday, Ayatollah Mojtaba Khamenei warned Iran’s response would be "without any geographical limitations."

01.11.2026 8

Fortune

Jason Ma

Fed Chair Kevin Warsh is actually managing U.S. debt costs not inflation, economist says, as interest rates threaten to top GDP growth soon

"We’re not in hawkish or dovish land. What’s happening is yield curve management, which itself is a function of how precarious the U.S. debt...

01.11.2026 7

Fortune

Jason Ma

Soaring health insurance costs are quietly preventing wages from rising higher, while workers also shoulder a larger share of premiums, economist says

If employer contributions had instead grown at 3%, which was the pace a few years ago, wage growth would be about 0.2-0.3 percentage points faster...

01.11.2026 7

Fortune

Jason Ma

If California undid its ‘original sin’ and matched Texas on taxing property, it would raise more revenue than the billionaire tax, economists say

"It is simply not possible to fund the state’s needs by leaning on a few hundred people, as politically appealing as that may be."

31.10.2026 10

Fortune

Jason Ma

China sees the yuan vs. dollar rivalry like Pepsi vs. Coke, expert says — ‘never the market leader, but serviceable in a pinch’

"Without a far larger pool of renminbi assets that foreigners can freely buy and sell, the renminbi cannot come close to replacing the dollar."

31.10.2026 9

Fortune

Jason Ma

AI boom hits a wall on Wall Street as OpenAI cuts fundraising target while Meta gets a credit warning over its cash flow, spending and monetization

S&P Global cut its outlook on Meta to "negative" from "stable" late Friday.

31.10.2026 9

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Jason Ma

An AI slowdown that takes some air out of the exuberance could actually extend the boom, Wall Street veteran says

"However, we view these constraints as healthy for the durability of the AI boom!"

30.10.2026 10

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Jason Ma

One of the world’s richest countries has taxed personal wealth for over a century—while also adding more millionaires

In Zurich, someone with $1 billion in net worth faces a wealth tax with an effective rate of 0.7%.

26.10.2026 20

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Jason Ma

United Airlines CEO Scott Kirby has another ‘non-consensus opinion’ besides a wealth tax: national service for everyone

"I think if everyone had to spend a couple of years as a teacher, as a firefighter, serving in the military—I think that'd be good for our country."

25.10.2026 10

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Jason Ma

Forget the House and the Senate, the economy may hinge on state and local races in the midterm elections

"For the direction of the U.S. economy, the composition and direction of governance at the state level may matter more than whether the Democrats...

25.10.2026 10

Fortune

Jason Ma

The U.S. has the world’s largest gold reserves—worth $1 trillion at market rates. But repricing that hoard ‘would backfire in a big way,’ analyst says

"Far-fetched? Of course, but these days I have learned to never be shocked by anything anymore."

25.10.2026 10

Fortune

Jason Ma

Here’s the ‘core economic flaw’ in the AI bull case as stock and bond trades unravel, according to a top economist

"So far, the AI payoff for firms has been slow to materialize, implying a growing reluctance to pay for AI services."

24.10.2026 8

Fortune

Jason Ma

The world’s biggest producer of maple syrup has nearly exhausted its strategic reserves after Americans hoarded supplies ahead of Trump’s tariffs

The Quebec Maple Syrup Producers, which oversees the strategic syrup reserve, predicted the stockpile will be completely empty by February.

24.10.2026 8

Fortune

Jason Ma

France’s latest debt warning describes a country where governance is breaking down — and even doing too little, too late is barely possible

"The negative outlook reflects the increased risk that the fragmentation of France's political landscape will continue to impair the functioning of...

24.10.2026 10

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Jason Ma

Energy markets are adapting to the Iran war as a ‘forever conflict’ while oil producers keep supplies flowing and avoid ‘mutually assured destruction’

"Repeated supply shocks are driving a lasting reconfiguration of trade routes and energy corridors, and tail risks remain elevated."

23.10.2026 10

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Jason Ma

The French are rioting as inflation hits 3.4% while wage growth and GDP remain stagnant. It’s higher in Trump’s America

France's unemployment tops 8%, with youth joblessness at 20%. It’s not quite the same everywhere.

19.10.2026 10

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Jason Ma

Europe sent its gold to the U.S. for safe keeping during World War II. Central banks are now reshuffling their reserves for a new era of uncertainty

"Central banks are increasingly optimizing across three considerations: custody risk, physical accessibility and market liquidity."

18.10.2026 10

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Jason Ma

Iran is running out of money and can’t even pay its troops as U.S. blockade chokes the economy, Central Command says, while domestic unrest grows

"The Islamic regime is clearly feeling the economic pain, and the IRGC is increasingly showing signs of greater desperation as a result."

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Jason Ma

Official data show China is dumping more U.S. Treasury debt. But it may actually be a stealth buyer, with a big stash suspiciously piling up in Canada

Canada's holdings of U.S. Treasuries soared to $465 billion in August from just $169 billion five years ago.

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Jason Ma

‘How many canaries have we killed in the coal mine?’ — Wall Street debates if the latest AI bubble warnings are another head fake or the real thing

"I don't know whether this is the breaking point or another 25 or 50 basis points higher is the breaking point."

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Jason Ma

‘France, truly, is on the brink’ and just days away from a make-or-break moment in its debt crisis, analyst warns, as protests turn into riots

"France could be forced to seek assistance from the International Monetary Fund and to pray for it from the European Central Bank — a humiliation...

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Jason Ma

U.S. debt interest payments hit $3 billion a day and jumped 8% in fiscal 2026 — faster than total federal spending, revenue and GDP growth

Net interest payments rose 8% to $1.05 trillion in fiscal year 2026, while revenue increased 3% to $5.4 trillion and spending grew 6% to $7.4...

17.10.2026 40

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Jason Ma

For one grocery chain, the cost to ship lettuce now tops the lettuce itself, showing how high fuel prices are sinking their teeth across the economy

"Higher gas prices are beginning to bite because, unlike earlier in the year, there's no offset this time around from fiscal policy."

16.10.2026 20

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Jason Ma

China’s debt interest costs are soaring above U.S. levels and growing faster than any other budget category as Beijing struggles to prop up growth

China's spending on interest payments accounts for 19% of the central government’s general public budget and skyrocketed 341% between 2013 and 2025.

11.10.2026 20

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Jason Ma

Oil theft is on the rise in the heart of U.S. shale country—and it’s mostly carried out in targeted, organized heists

According to a Dallas Fed survey, 32% of executives who were impacted by oil theft said it had increased slightly over the last 12 months.

11.10.2026 20

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Jason Ma

For the first time ever, 10-year bond yields track diesel prices more closely than crude, and Trump’s fuel deal with Putin may be too little too late

"Ultimately, diesel and gasoline drive inflation, not crude oil."

11.10.2026 20

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Jason Ma

Ship captains and crews transiting the Strait of Hormuz make so much danger pay that they’re ‘almost being viewed as mercenaries’

Tanker captains can earn $100,000 a month for transiting the strait, plus a $50,000 bonus for each trip, and sailors can make at least four to six...

10.10.2026 10

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Jason Ma

CBO chief warns it’s ‘probably not plausible’ that a strong economy alone can steady U.S. debt as 5%-6% growth is needed—more than Bessent’s 3% view

"So then we're left with changes in revenues and changes in spending, and those are inherently political choices."

10.10.2026 20

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Jason Ma

‘Fantasy economics’: Baby boomer vs. Gen Z tensions hit France as pension costs drive debt crisis and education cuts that fuel student protests

"Thus the fiscal pressure caused largely by France’s very generous government pension plan has led to cutbacks in other spending, notably on...

10.10.2026 20

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Jason Ma

‘Trojan horse’: California’s top 1% pay nearly half the state’s income taxes. Prop 40 opponents warn the billionaire tax could reach everyone else

The state legislature could modify Prop 40 with a two-thirds vote, but courts would also weigh in on any attempts to stretch the scope to all...

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Jason Ma

U.S. shale executives have no idea when the oil market will go off a cliff

While more than half see substantial margin remaining, one-third of oil executives think the SPR is already below or nearly at tank bottoms.

05.10.2026 20

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Jason Ma

Persian Gulf oil flows return to prewar levels, but Iran could resort to a ‘scorched earth campaign’ as U.S. deploys more ships and Marines to Mideast

"That is what everyone who actually follows this region and its dynamics is worried about."

04.10.2026 20

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Jason Ma

Japan’s population is shrinking at an accelerating rate, but the nationalist prime minister is making it harder for foreigners to live there

The latest five-year census showed the number of Japanese nationals declined by 3.5% to 119.1 million in 2025, following a 1.4% drop in the 2020...

04.10.2026 20

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Jason Ma

Even ‘Bond King’ Bill Gross warns ‘don’t own bonds’ as long-term debt enters a new ear of volatility

"Be prepared for the end of 'what you are used to' stock markets and higher volatility in prices for the benchmark 10-year Treasury bonds."

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Jason Ma

Zohran Mamdani says ‘you have to luck out in some big way’ to achieve the American Dream now—and many people see better odds of winning the lottery

"People think that they have better odds playing the lottery than making it in their own life. What does that say about the country that we live in?"

03.10.2026 20

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Jason Ma

Iran’s currency is getting obliterated as the regime is about to run out of oil to sell and can’t even get its money from customers

"We can't even get our own money out of a country to which we've supplied goods, let alone using those funds to pay someone else in another corner of...

03.10.2026 20

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Jason Ma

U.S. debt is increasingly at the mercy of the market as interest costs surge while elections add more risk to the debt ceiling, ratings agency warns

"This trajectory points to an unsustainable medium-term fiscal path and leaves the sovereign increasingly exposed to shifts in market sentiment and...

03.10.2026 40

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Jason Ma

France debt crisis: Bond investors have rendered a ‘guilty’ verdict and are pricing in growing odds of a sovereign default, analyst says

The cost of insurance against a French default is now the highest among the major EU countries and the UK.

02.10.2026 30

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Jason Ma

Saudi Arabia is reaping a massive oil windfall, making it perhaps the Iran war’s only winner—Tehran’s proxies actually ‘did Saudi a favor’

"Folks, at this point in time, any exports Saudi achieves via the Red Sea is just icing on their $100/barrel cake."

28.09.2026 30

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Jason Ma

Thinking about buying stocks instead of a home as mortgage rates top 7%? The S&P 500 has blown away the housing market over the past decade

"Buying a home also bundles two very important, but very different, decisions: where to live, and how to invest a large chunk of your life savings."

27.09.2026 20

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Jason Ma

The U.S. may soon receive $600 million worth of Iranian oil that was seized earlier in the war, putting an ancient body of maritime law back in focus

The legal channel the administration is using to seize the tankers is known as prize law and has its roots in the Middle Ages.

27.09.2026 20

Fortune

Jason Ma

The U.S. economy is running hot and stuck on a hamster wheel as GDP growth must outpace borrowing costs—or else get sucked into a debt spiral

"With interest rates on new Treasury bonds and notes at around 5% and medium-term nominal economic growth expected to be closer to 4%, the U.S. is...

27.09.2026 30

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Jason Ma