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The Big & The Beautiful
Not a soap opera. Is a major Bill just passed by Congress. What will it do?
Congress passed Trump’s massive tax-and-spending bill.
Elon Musk loud-quit the GOP to start his own party.
I applied to a penguin retirement home.
Markets
PAST WEEK | YEAR-SO-FAR | |
|---|---|---|
Nasdaq | +1.8% | +6.9% |
S&P500 | +2.0% | +7.0% |
MSCI Emerging Markets | +1.5% | +16.8% |
Bitcoin* | +1.6% | +16.9% |
Ethereum* | +6.2% | -22.5% |
Stock of the week: | +65.2% | +34.0% |
Crypto of the week: | +52.8% | -26.7% |
*Source: CoinGecko.com As of 4:14PM July 6, 2025
World news
Top news stories of the past week
1) Big Beautiful Bill passes: Congress just passed President Trump’s massive tax and spending bill - a big win for him and his agenda. After a tight vote in the House and a one-vote margin in the Senate, Trump called it a “rocket ship” for the country. Critics warn it could add $3.3 trillion to the deficit and leave millions without health coverage, but the White House says “nah”.
2) Flash floods in Texas: Central Texas experienced catastrophic flash flooding this week triggered by extreme rainfall, with some locations receiving up to 11 inches of rain within just a few hours. This caused the Guadalupe River to surge dramatically, rising as much as 29 feet in less than two hours in some areas. Tragically there are over 50 confirmed deaths at this time, which officials attribute to the unprecedented scale and speed of the flooding.
3) Make America Party (Again): Elon Musk has announced the formation of a new U.S. political party called the “America Party”, following a highly publicized fallout with President Trump over a controversial tax-and-spending bill that Musk claims will "bankrupt the country" (which just passed congress). Musk, previously a major Trump supporter and the largest donor to his 2024 campaign, broke ties after Trump signed the legislation into law. I guess the name Xmerica Xarty was already taken.
Top WEIRD stories of the past week
1) An invasive fish that can walk on land and eat birds was captured in Pennsylvania. Nature is really spiralling.
2) A medical center in Houston has performed the nation's first fully robotic heart transplant. I guess not all robots are evil?
3) An aquarium in New England created a senior sanctuary for aging penguins. Let’s hope they accept my application as a 33 year old man with bad knees.
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Chart
You like charts? Graphs? Ya you do
US Dollar Decline
The US dollar is down more than 7% this year - which is on track for its worst year in modern history (and it may not be done falling yet).
History
On this day…
…in 1930, building began on the Hoover Dam. Over five years, 21,000 men worked nonstop to build the largest dam of its time - and one of the biggest man made structures on Earth.
Sometimes I look at this and think “Damn”. Other times I look at it and think “Dam”.
Music
Banger of the week
Most important thing
Meme? Nah. Art.
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