Top analysts at Bank of America Research are pulling back the curtain on the colossal $22 trillion universe of private capital, an asset class so massive it would be “the world’s second-largest economy” if it were treated as a country, Fortune reports.
Chatbots Are Pushing Sanctioned Russian Propaganda
“ChatGPT, Gemini, DeepSeek, and Grok are serving users propaganda from Russian-backed media when asked about the invasion of Ukraine,” Wired reports.
Shutdown Challenges Republican Filibuster Vow
“In January 2021, West Virginia Sen. Joe Manchin made a solemn vow to Senate Republican Leader Mitch McConnell, swearing on the lives of his children and grandchildren that he would never vote to end the legislative filibuster—a longstanding rule that requires a 60-vote supermajority to bring most bills to the floor,” the Wall Street Journal reports.
“The Democrat-turned-independent said in an interview that at least 15 of his Senate Republican colleagues made similar promises to him.”
“Now retired, Manchin is calling on them to honor their pledges, as a growing number of GOP lawmakers say their party should kill or change the filibuster to end the government shutdown, which is approaching a full month.”
Graham Platner’s Campaign Manager Quits
“Maine Senate candidate Graham Platner’s campaign manager is stepping down from his position,” Axios reports.
“Kevin Brown, a longtime friend of Platner’s who started as campaign manager last week, is leaving his role… Platner’s former political director, Genevieve McDonald, also previously departed the campaign.”
Largest Federal Workers’ Union Calls for End of Shutdown
“The nation’s largest union of federal workers is calling on Congress to pass a short-term funding bill and immediately end the government shutdown as it heads into its fourth week,” Politico reports.
From a statement: “Both political parties have made their point, and still there is no clear end in sight. It’s time to pass a clean continuing resolution and end this shutdown today. No half measures, and no gamesmanship.”
The Bulwark: “It’s no surprise government employees are under extra duress during a lengthy shutdown, particularly since the White House has used it as a pretext to do still-deeper cuts to the federal workforce. But whether this open pressure shakes any additional Democrats loose from their till-now firm opposition to a current-levels spending bill remains to be seen.”
Hundreds With ‘Top Secret’ Clearance Exposed
“The sensitive personal details of more than 450 people holding ‘top secret’ U.S. government security clearances were left exposed online,” Wired reports.
“The people’s details were included in a database of more than 7,000 individuals who have applied for jobs over the last two years with Democrats in the United States House of Representatives.”
Dutch Voters Eye Return to Center
“Dutch voters are expected to swing back to the center in elections this week, after a two-year experiment with a government led by the far right ended in disarray,” the Financial Times reports.
World’s Oldest Ruler Biya Wins Reelection in Cameroon
“Cameroonian President Paul Biya was declared the winner of elections that were marred by allegations of irregularities, and is set to rule the central African nation until the age of 99 if he completes his eighth term,” Bloomberg reports.
Trump Says He Had a ‘Perfect’ MRI Scan
“President Trump said that he underwent magnetic resonance imaging earlier this month, telling reporters aboard Air Force One on Monday that the results had been ‘perfect’ but declining to say why his doctors had ordered the scan,” the New York Times reports.
Canada Turns to China
“With U.S. relations at a new low, Prime Minister Mark Carney said on Monday that he will meet with China’s top leader — signaling a pivot to Asia and a potential breakthrough in ties after years of acrimony between the two countries,” the New York Times reports.
Indiana Will Consider New Map
“Indiana Gov. Mike Braun has officially called lawmakers back to the Statehouse for a special session to redraw the Hoosier State’s congressional maps mid-decade, as requested by President Donald Trump’s administration,” the Indianapolis Star reports.
“It’s expected to start Nov. 3, according to the proclamation Braun plans to sign Oct. 27. Indiana follows other red states, including Texas and Missouri, which have already made changes to their maps to make more favorable maps for Republicans ahead of the 2026 midterm elections.”
Javier Milei Wins a Fresh Mandate to Remake Argentina
The Economist: “In the end it was a landslide. The party of President Javier Milei, Liberty Advances (LLA), won Argentina’s midterm elections with almost 41% of the vote. The Peronist opposition, including the main party and its regional allies, trailed by nine percentage points. LLA even won in Buenos Aires province, where they had lost a provincial election by 14 points last month. The resounding win far surpassed the expectations of pollsters and markets, which clustered around a draw or perhaps a modest victory for Mr Milei.”
Said Milei: “Today we pass the turning point. Today begins the construction of a great Argentina.”
“The result gives a jolt of energy to Mr Milei’s radical libertarian reform program, which has been faltering for much of this year. He now has an opportunity to reshape Argentina’s economy with sensible macroeconomic management and free markets. Crucially, he should have the numbers in Congress to defend his presidential vetoes, thereby preventing the left-wing opposition from forcing through heavy spending on their own priorities. That renews the credibility of his impressive fiscal discipline.”
New Japanese Prime Minister Is Extremely Popular
A new Nikkei/TV Tokyo survey finds new Japanese Prime Minister Sanae Takaichi with a 74% approval rating.
U.S. Debt Burden on Track to Overtake Italy’s
“The U.S. government’s debt burden is on track to exceed levels in both Italy and Greece for the first time this century, underscoring the parlous state of America’s public finances,” the Financial Times reports.
Bessent Names Fed Chair Finalists
“Treasury Secretary Scott Bessent on Monday confirmed the names of five finalists to succeed Federal Reserve Chair Jerome Powell, with the president saying he expected to make his decision by year-end,” Bloomberg reports.
“The candidate pool has narrowed to current Fed board members Christopher Waller and Michelle Bowman, former Fed Governor Kevin Warsh, White House National Economic Council Director Kevin Hassett and BlackRock Inc. executive Rick Rieder.”
Trump ‘Would Love’ to Run for Third Term
On the question of whether he would run for a third term in 2028, President Trump told reporters on Air Force One: “I would love to do it — I have the best numbers ever! … Am I not ruling it out? You’ll have to tell me.”
The Shutdown Is About to Get Worse
“The government shutdown gets uglier at the end of this week,” Politico reports.
“With President Donald Trump traveling abroad and Congress still deeply divided over a path to fund federal agencies, a pileup of deadlines on and around Nov. 1 is set to put many U.S. households at risk of new hardship: Popular programs that provide nutrition assistance, early childhood education and air service to rural communities are now among those about to run out of money.”
Punchbowl News: “The fallout from the shutdown is growing worse by the day. The risk for Democrats is that these impacts begin to overshadow the health-care issues they’re trying to fix. For the GOP, it looks like they can’t govern.”
The Economy Is In Uncharted Territory
“Data went dark this month. The government shutdown is halting the collection and release of statistics tracking the job market, public health and crop production, as well as other economic indicators,” Axios reports.
“The numbers are critical for understanding what’s happening in the U.S., particularly at a moment of rapid change in both government policies and in the job market.”
