Weekly Wisdom | Gloom vs. Boom
A World of Contrasts
This Substack cannot recall a time when the national mood surrounding politics, the global economy and American foreign policy felt quite so gloomy. The mainstream media certainly does little to lift the spirits of the average American. At the same time, however, the ongoing technology boom is giving discerning news readers plenty of reasons for optimism. This edition of Weekly Wisdom will therefore examine several encouraging—and troubling—stories from the current news cycle.
Below, you will find stories of gloom and boom:
Gloom: Russia has threatened to strike British military targets inside and outside Ukraine in retaliation for Britain’s supply of drones and advanced missile technology to Kyiv. Moscow has also directed similar warnings toward France, raising fears that the war could expand beyond Ukraine. Any deliberate Russian attack against a NATO member could lead the alliance to invoke Article 5, risking a dangerous escalation between Russia and the West.
Boom: SpaceX recently announced plans to construct a new $100 billion spaceport in Vermilion Parish, Louisiana. Known as Project Osprey, the 125,000-acre campus is expected to become the largest launch site in the world. Once fully built and operational, it will be capable of supporting thousands of Starship launches annually—dramatically lowering launch costs, expanding the space economy, and delivering an enormous economic boost to both Louisiana and the United States.
Gloom: The housing market remains mired in a miserable slump, with home prices at or near record highs in many metropolitan areas while prospective buyers remain largely on the sidelines. Existing-home sales continue to hover near levels last seen during the aftermath of the 2008 financial crisis. With mortgage rates climbing again, the relief desperately needed to revive the market does not appear likely anytime soon.
Boom: Nvidia reported blowout fiscal second-quarter earnings on Wednesday, with revenue surging 106% from a year earlier to $96.2 billion. Widely viewed as the bellwether of the ongoing AI revolution, Nvidia continues to see extraordinary demand for its GPUs, networking equipment and other AI-computing systems. Its results demonstrate that investment in artificial intelligence—an increasingly important engine of American economic growth—remains remarkably strong.
Gloom: Driven by widespread dissatisfaction with the Iran War and the continued affordability crisis, Democrats are favored to capture the U.S. House, potentially gaining between 15 and 25 seats. Control of the Senate remains more uncertain, although a Democratic takeover is increasingly possible. If Democrats capture both chambers, Congress would severely constrain President Trump’s legislative agenda and subject his administration to aggressive oversight during the final two years of his term.
Boom: Moderna and Merck announced excellent Phase 3 results for a personalized mRNA cancer vaccine designed around the unique genetic mutations found in each patient’s tumor. The vaccine teaches the immune system to recognize and attack cells carrying those mutations. When combined with Merck’s Keytruda following surgery, the treatment significantly reduced the risk that high-risk melanoma would return or spread—marking the first successful Phase 3 trial of a personalized mRNA cancer therapy.
While the American government—and governments around the world—remain mired in chaos, our nation’s investors, entrepreneurs and technology titans are driving advances that will profoundly reshape our health, society and economy within just a few years. So, even as the headlines remain gloomy, America’s private sector is achieving stunning victories over bureaucracy and the limitations of nature every single day. And that is a reason to celebrate!
