Trump, always attracted to playing the role of the strongman, is even more inclined than he was in his first term to misuse the military for his own political gratification. By Ruth Marcus
New York to ICE: “G.T.F.O.”
As protests against Trump’s immigration raids spread nationwide, a crowd gathered in lower Manhattan—complete with bullhorns, balloons, and a toy doughnut to bait the cops. By Adam Iscoe
What Did Elon Musk Accomplish at DOGE?
Even before Musk fell out with Donald Trump, the agency’s projected savings had plummeted. But he nevertheless managed to inflict lasting damage to the federal government. By Benjamin Wallace-Wells
“In every stock-jobbing swindle everyone knows that some time or other the crash must come, but everyone hopes that it may fall on the head of his neighbor, after he himself has caught the shower of gold and placed it in safety.”
— Karl Marx, Capital: A Critique of Political Economy (1867)
“Along with a lot of worthless nonsense, the bubbles of the 1920s gave us some durable housing, highways, and a radio broadcasting infrastructure.”
We Have Always Lived in the Casino
John Maynard Keynes warned that when real investment becomes the by-product of speculation, the result is often disaster. But it’s hard to tell where one ends and the other begins.
Money for Nothing
Why the modern financial sector is better at extracting rents than funding the future.
The House Always Wins
The gaming industry is turning every smartphone into a casino — and it’s destroying more lives than ever.
THE NEW YORK TIMES MAGAZINE: The 6.15.25 Issue features Henry Louis Gates Jr. on the ancestry of Pope Leo XIV; Nicholas Casey on how the MAGA right became obsessed with the Romanian presidential election; Irina Aleksander on how Jon Bernthal became Hollywood’s most dependable tough guy; David Marchese interviews Misty Copeland about her retirement; and more.
Treasury-bill ETFs are rapidly gaining in popularity and challenging money-market funds and bank deposits as a place for retail investors to park cash.