November 2025

IT’S IMPOSSIBLE TO OVERSTATE DEFLATIONARY PRESSURES:

Coupert: smart shopping extensions are changing the way people save money online (Jon Stojan, November 3, 2025, Digital Journal)

The core advantage is automation. Instead of copying and pasting codes from coupon sites, smart tools like Coupert apply discounts instantly. Cashback rewards are layered in, and price history helps users identify better deals.

Honey: Applies automatic coupons but lacks integrated cashback features.
Rakuten: Provides strong cashback rates but requires manual activation and no coupon testing.
Capital One Shopping: Useful for price tracking, weaker in coupon coverage.
Ibotta: Well-known in groceries, but its receipt-based model is less efficient for online shopping.
RetailMeNot: Popular coupon site, but prone to expired and unverified codes.


Coupert integrates all of these features. Users save an average of $180.12 annually on coupons, $86.92 through cashback, and $333.74 via price tracking.

hISTORY eNDS EVERYWHERE:

Argentina Is on a Path to Economic Success (Nouriel Roubini, 11/03/25, Project Syndicate)

Thus, heading into the recent legislative election, Argentina’s problem was about liquidity, not solvency. With electoral uncertainties weighing on growth this year – especially after the Peronist opposition performed better than expected in Buenos Aires’s provincial election in September – investors had grown nervous. Following a couple of corruption scandals and tactical mistakes on Milei’s part, the peso had weakened, despite interventions to keep the exchange rate within a set band. Domestic interest rates surged, Argentina’s sovereign spread widened significantly, and the stock market weakened. If the Peronists could take enough seats to wield an effective veto, Milei’s entire reform program could unravel.


But since Argentina’s problem was merely about liquidity, Milei sought and received a controversial $20 billion swap line from the US Treasury, whose support was conditional on him prevailing in the election. In the event, he and allied parties triumphed, picking up seats in both chambers. By fixating so much on electoral uncertainty, Milei’s political links to US President Donald Trump, and an overvalued exchange rate, the financial commentariat had ignored the promise of his radical fiscal and other reforms.

Now, for the first time in ages, Argentina may escape the policies that have repeatedly driven it into debt defaults and high inflation. After the most recent Peronist administration had pushed the country close to an inflation spiral and another default, Milei started cleaning up the mess with ruthless efficiency. While many have criticized his draconian approach, the results of the October election show that the Argentine people would prefer short-term economic pain over a return to Peronist policies.

THIS IS THE WAY:

Jack Smith, Trump’s Target, Shifts From Defense to Counterattack (Glenn Thrush, Nov. 3, 2025, NY Times)

Mr. Smith, who spent more than two years aggressively collecting evidence to prove Mr. Trump mishandled classified documents and tried to overturn the results of the 2020 election, appears eager to publicly challenge a foundational pillar of MAGA canon: that the president was a sinned-upon innocent who did nothing to deserve scrutiny, much less two prosecutions.

Mr. Smith has told people in his orbit that he welcomes the opportunity to present the public case against Mr. Trump denied to him by the Supreme Court decision asserting broad presidential immunity from prosecution and adverse rulings from a Trump-appointed judge on the federal bench in Florida.

INFORMATION WANTS TO BE FREE:


The end of the rip-off economy: From finance and medicine to used cars, artificial intelligence is radically improving market efficiency (The Econmist, 10/27/25)

IF YOU KNOW how to use artificial intelligence, it can save you a lot of time and money. Leasing a new car? Be sure to upload a photograph of the contract to ChatGPT first. Need help with a leaky tap? AI often understands the issue—and at a lower cost than a handyman. Parents with a fussy baby can now use chatbots to answer questions in seconds, rather than waiting for a doctor’s appointment. Giving Claude a PDF of a wine list is a great way to find the best-value bottles.

These examples add up to something bigger. As AI goes mainstream, it will remove one of the most enduring distortions in modern capitalism: the information advantages that sellers, service providers and intermediaries enjoy over consumers. When everyone has a genius in their pocket, they will be less vulnerable to mis-selling—benefiting them and improving overall economic efficiency. The “rip-off economy”, in which firms profit from opacity, confusion or inertia, is meeting its match.

Information advantages have existed for as long as markets themselves. In medieval England grocers used fake scales to dupe customers; pub landlords put salt in beer to make patrons thirstier. Such squalid practices are not just annoying. In a paper published in 1970, George Akerlof, a Nobel-prizewinning economist, discussed the market for used cars. It is hard for a buyer to know if such a car works properly or is a “lemon” with hidden problems. Buyers thus assume the worst. As a result, honest brokers, worried about being suspected of exploitative behaviour, stay away. The quality of service declines. Fewer consumers fulfil their needs.

The internet has made it harder to screw over customers. With Carfax and other providers of vehicle data, customers can check the history of a vehicle, overcoming some of the problems identified by Mr Akerlof. Taxi drivers now struggle to take people on circuitous but profitable routes, since apps such as Lyft and Uber tell them exactly where to go. Tripadvisor, a reviews website, sends tourists to restaurants that will provide a decent meal. In the early 2000s there were more than 20 branches of Angus and Aberdeen Steak Houses, a notorious tourist trap, in London. Today there are four, and the ones that remain are better than before.

Efficiency is deflationary.

A RACE OR A RELIGION?:


The assassination that changed Israel forever (Yossi Melman, 2 November 2025, The Spectator)

After the signing of the Oslo Accords in September 1993, right-wing circles – especially among Jewish settlers – launched a public campaign that grew increasingly aggressive. What began as verbal incitement soon escalated into physical violence and criminal acts.

Itamar Ben-Gvir – today Israel’s minister of national security – was then a young disciple of the extremist rabbi Meir Kahane, who preached Jewish supremacy. Ben-Gvir infamously tore the Cadillac emblem off Rabin’s car and declared before television cameras: ‘We got to the symbol – and we’ll get to him too.’ At several demonstrations, protesters came dangerously close to physically attacking Rabin.

Riding that wave of incitement were senior opposition figures from the Likud party, led by Benjamin Netanyahu. Netanyahu was among the most prominent voices fanning the flames. He marched at the head of a demonstration where protesters carried a coffin bearing Rabin’s name.

At a major rally in Jerusalem’s Zion Square, weeks before the assassination, Likud leaders stood on a balcony – among them Netanyahu, who delivered a fiery speech; Ariel Sharon, and others. When posters depicting Rabin in an SS uniform began circulating in the crowd, some Likud leaders, including future prime minister Ehud Olmert, realised the rally was spiraling out of control and left the scene. Netanyahu stayed.

After the assassination, Ami Ayalon was appointed head of the Shin Bet, replacing the failed Carmi Gillon. Ayalon told me last week bluntly that the politicians on the balcony may not have intended Rabin’s death, but their presence – without condemning the sights and chants of the rally – granted legitimacy to extremists. ‘It’s always the minority that acts,’ he observed.

The justice system also failed to act. Although 340 cases of incitement and violence were opened, prosecutors and judges dragged their feet – even after Rabin himself appealed to Supreme Court President Aharon Barak to intervene. ‘Our approach,’ admitted then–Attorney General Michael Ben-Yair, ‘was to show tolerance toward free speech and the right to protest. In retrospect, that was a mistake.’

Ironically, there was a brief time when they could have escaped their spiral out of the West, when Sharon was in power and realized Israel was best served by Palestinian statehood. His stroke was the real disaster.

hISTORY eNDS EVERYWHERE:

Javier Milei’s Great Opportunity (José Papparelli, Nov 1, 2025, The European Conservative)

The overwhelming and unexpected electoral victory achieved by the ruling party unquestionably signalled renewed confidence from the electorate in the government project. The alliance La Libertad Avanza obtained almost 41% of the votes at the national level, surpassing Fuerza Patria by nine points: 9,337,665 libertarian votes against 7,276,429 of the Kirchnerist Peronism.

The extent of the victory is stunning: La Libertad Avanza has become the most voted-for force at the national level, and it won in 16 districts. Milei swept Peronism away, with hardly anybody foreseeing it. His movement managed to win even in the province of Buenos Aires, a historic Peronist bastion, today submerged in misery, corruption, and violence, with an absolute lack of public security that its citizens suffer daily.

At the polls the majority of Argentines have made clear what they do not want, what they categorically reject: to continue being governed by Kirchnerism. In the last twenty-two years, Néstor Kirchner (2003-2007), Cristina Fernández de Kirchner (2007-2015), and Alberto Fernández (2019-2023) have passed through the Casa Rosada, the historic headquarters of Argentine presidents. These two decades of misgovernance have left the country mired in the most shameful poverty and geopolitically aligned with some of the most repugnant narco-dictatorships and tyrannies in the world.

One of the many possible readings of the election results is that, beyond the economic difficulties still faced by a large part of the Argentine people, thanks to the incipient and complex application of a political model defined as liberal-libertarian, the population has embraced the government’s plan. By contrast, all the opposition offered was to “unseat Milei” and put an end to the government “no matter what” by boycotting and permanently blocking any economic measure aimed at the capitalization of the economy, macroeconomic consolidation, and the end of the fiscal deficit, the adjustment of unnecessary spending, and the elimination of monetary issuance as a tool to cover the deficit and sustain inflation.

It is crucial to bear in mind that the government’s economic policies have been validated by the result.