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Only one in five millennials doesn’t project a financial image at all, compared to 33% of Gen X and 42% of baby boomers.

The Bravo boss also revealed whether he's been offered a spot on "The Traitors" yet.

The Bravo boss also revealed whether he's been offered a spot on "The Traitors" yet.

The Los Angeles Lakers have returned from their four-day minicamp in Slovenia, hosted by superstar Luka Doncic. Their trip to Doncic’s home country — which featured working out, playing pick-up games, golfing and exploring Ljubljana — was evidently a fun time. So much so, that Jarred Vanderbilt is considering getting a Slovenian passport. The Lakers...

"All Accurate": Musk Confirms Massive New Starship Rocket Base In Louisiana

Our report from several weeks ago, titled "SpaceX In 'Final Stages' Of Securing Massive New Rocket Launch Site In Louisiana," was confirmed Tuesday afternoon by Elon Musk and his rocket company.

"Starbase, Louisiana, will be built to support thousands of Starship flights a year, with missions launching to Earth orbit, the Moon, Mars, and beyond," SpaceX wrote on X.

Starbase, Louisiana will be built to support thousands of Starship flights a year with missions launching to Earth orbit, the Moon, Mars, and beyond pic.twitter.com/SE6gyNZWBK

— SpaceX (@SpaceX) August 25, 2026

Musk also chimed in, saying reports about the new $100 billion spaceport near Pecan Island, Louisiana, were "all accurate."

All accurate https://t.co/FkmQCEoS0i

— Elon Musk (@elonmusk) August 25, 2026

Let's come back to our Aug. 3 report, in which we cited the Times-Picayune:

SpaceX is poised to take control of roughly 130,000 acres at Pecan Island, more specifically in coastal Vermilion Parish, as part of a settlement resolving long-running coastal lawsuits against ExxonMobil. Gov. Jeff Landry is expected to announce the agreement this month.

One X user responded to Musk's post: "This is unironically the biggest thing to happen to Louisiana since the Louisiana Purchase."

 

Tyler Durden Tue, 08/25/2026 - 13:40

Film culture has entered its witching-hour era — with people rearranging sleep, work, transit and even common sense just to experience a film on the right screen.

Better.com’s new boss once told founder "I actually love you" and showered him with praise as a "0.01%" talent — before replacing him in the top job.

The Jets’ preseason kicking competition — which hasn’t exactly generated much optimism — is over for now.

The Supreme Court temporarily cleared the way for Trump’s election-related executive order to move forward, but left the underlying legality of the mail-ballot rules unresolved.

Vanity Fair cut ties with the reporter after she was caught smiling and winking during the Lindsay Clancy triple-murder trial.

Donald Steven Lang, 62, who was known to frequent ports in California, was captured over the weekend in Canada.

Stellar 2Y Auction Stops Through On Most Foreign Buying Since March 2025

After last week's post "Bessent buyback" fireworks, which sent yields on a rollercoaster ride in the subsequent days, many were very curious to see how today's sale of $69BN in 2 year paper, the week's first coupon auction, would go and whether Bessent inadvertently had impaired primary market issuance. In the end, the auction went through without a glitch.

The $69BN auction of 2Y notes priced at a high yield of 4.204%, down notably from 4.315% last month as rate hike odds have eased substantially, and stopped through the When Issued 4.208% by 0.4bps, the 3rd consecutive stopping through auction in a row.

The bid to cover was an unspectacular 2.599, down from 2.662 in July and the lowest since March (it was below the 2.611 recent average).

The internals were stronger with Indirects awarded 66.0%, up from 56.6% and the highest allocation to foreign buyers since March 2025. Directs dropped to 23.09% from 34.05%, the lowest since March, which left 10.9% for Dealers the second lowest since February. 

Overall, this was a stellar 2Y auction and one would hardly have guessed that the bond market had gone through the most turmoil of 2026 just a few days earlier.

Tyler Durden Tue, 08/25/2026 - 13:23

Kohl’s gave shoppers double the trouble.

Guggenheim Loan Craters, Fund Hits GFC Lows As Feds Probe Walter's Empire

A first-lien loan due in 2031 tied to Guggenheim Investments, the asset-management arm of Mark Walter's Guggenheim Partners, cratered to roughly 72 cents on the dollar Monday, according to Bloomberg data. The hefty discount suggests that lenders remain unconvinced by management's efforts to contain mounting fears over deteriorating earnings, accounting practices and ongoing federal investigations into Walter's financial empire.

The $1.18 billion loan, issued by GIH Borrower LLC, dropped to a low of 72 cents on the dollar Monday morning. 

Walter's Guggenheim Partners reported a 38% year-over-year decline in second-quarter revenue last week. Management told investors that much of the deterioration was attributable to delays in recognizing advisory fees at Guggenheim Private Investments.

Shares of the Guggenheim Strategic Opportunities Fund are crashing to their lowest level since the Global Financial Crisis.

The loan market, however, appears to be delivering some bad news. Because Walter's businesses are privately held, the declining value of Guggenheim's loan offers investors a real-time indicator of concerns surrounding how Delaware Life Insurance Co. and its affiliate, Clear Spring Life and Annuity, two Group 1001 insurers, labeled about $20 billion in loans to companies within Walter's empire.

The insurers reclassified billions of dollars in investments as affiliated or related-party transactions after receiving grand jury subpoenas and conducting internal reviews. Lending to affiliates is not illegal, but it must be properly disclosed.

Related:

1. FBI Seized Mark Walter's Devices Months Before Record $12.5 Billion Lakers Sale

2. "Cash Crunch" Deepens? Mark Walter Explores Chelsea FC Stake Sale To Clearlake

3. Mark Walter Probe Puts Wall Street's Insurance-Private Credit Machine Under DoJ Scrutiny

CNBC reported that Walter's TWG Global holding company has tapped veteran Goldman Sachs lawyer David Markowitz to serve as its chief legal officer amid the federal probe.

Tyler Durden Tue, 08/25/2026 - 13:20

Both devices have become popular with consumers looking to run autonomous AI agents such as OpenClaw locally, with high demand depleting inventories at several Apple stores.

The townhouse at 111 E. 81st St., which hit the market in May for $15 million, has entered into contract after most recently asking $13.99 million

The wreck was initially named an unidentified German U-boat by Ian Taylor and the Skin Deeper team while diving the channel.

Treasury, IRS Propose Rules On Trump Account Investments

Authored by Naveen Athrappully via The Epoch Times,

The Department of the Treasury and the IRS have issued proposed regulations clarifying which investments may be made by Trump Accounts.

President Donald Trump speaks during the Trump Accounts summit at the Andrew W. Mellon Auditorium in Washington on Jan. 28, 2026. Madalina Kilroy/The Epoch Times

A Trump Account is a savings account designed to help children get a head start on financial wellness. It can be opened in the name of any individual younger than 18 with a valid Social Security number.

Funds in these accounts can only be invested in "eligible investments" during the growth period, referring to the period beginning from setting up the Trump Account to Dec. 31 of the calendar year in which the beneficiary becomes 17 years of age, the IRS said in an Aug. 20 statement. After the growth period, these eligible investment restrictions won't apply.

An eligible investment is either a mutual fund or an exchange-traded fund (ETF) that tracks the returns of a qualified index, according to the proposed rule notice published by the IRS on Aug. 21 in the Federal Register.

A qualified index means the S&P 500 index or any other index composed of equity investments in mainly U.S. companies and for which regulated futures contracts are traded on an exchange or board of trade.

Indexes that solely focus on specific sectors or industries won't be deemed a qualified index, the notice clarified. However, indexes based on companies' market capitalization can qualify.

A mutual fund or ETF must not use leverage in order to qualify as an eligible investment, according to the proposal. They must also not have annual fees and expenses of more than 0.1 percent of the investment balance.

Around 85 million children from 44 million families across the United States are expected to be impacted by the proposed regulations, the notice said.

In its statement, the IRS said that if an account beneficiary does not select an eligible investment offered by the account's trustee-institutions managing the accounts-then the funds will automatically be invested in eligible investments selected by the trustee during the growth period.

The Treasury and the IRS are seeking comments on the proposed rules, which are due by Oct. 20. The regulations, once in effect, will apply to tax years starting on or after Jan. 1, 2026.

"These proposed regulations will provide clarity for trustees and beneficiaries of Trump Accounts, thus encouraging eligible participants to invest in low-fee mutual funds and ETFs that will grow on a tax-deferred basis potentially over their entire lives," IRS Chief Executive Officer Frank J. Bisignano said in the statement.

"Funds deposited in Trump Accounts enable American children to start investing now and enjoy years of compound earnings for their future college, retirement and other needs."

Account Investments

According to estimates on the Trump Account website, $1,000 deposited at the time of a child's birth could grow to $6,000 by the time the child turns 18, even if no additional contributions are made.

If $250 is contributed annually, the fund could grow to $19,000. Under the maximum $5,000 annual contribution, the fund value could reach $271,000 at age 18.

In early July, the White House said that almost 6 million Trump Accounts had been opened.

In an Aug. 20 statement, the Treasury said the proposed regulations aim to keep investment costs low and help children's savings grow over the long term.

Investment fees and expenses can reduce account balances over time. The proposed rules limit investments to funds with low expense ratios and avoid those with excessive fees.

"Every dollar in a child's Trump Account should be working toward that child's financial future, not diminished by unnecessary fees," Treasury Secretary Scott Bessent said in the statement.

"Under President Trump's leadership, Treasury is putting simple, commonsense protections in place to help families keep more of their investment returns."

In a July 1 statement, the Treasury announced that the State Street SPDR Portfolio S&P 500 ETF would be the default investment for all contributions to Trump Accounts.

Parents or guardians of Trump Accounts can choose to invest funds in four additional low-cost index ETF options-iShares Core S&P 500 ETF, Vanguard Total Stock Market ETF, State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF, and iShares Core S&P Total U.S. Stock Market ETF.

Tyler Durden Tue, 08/25/2026 - 13:00

The former U.S. Open champion did not get a wild card for this year's tournament in Flushing Meadows in what is his final year of professional tennis.

Ghislaine Maxwell To Rot In Prison After Judge Denies Bid For New Trial

Jeffrey Epstein accomplice Ghislaine Maxwell gets to rot in prison until 2037 after a judge on Tuesday denied her bid to overturn her sex trafficking conviction and hold a new trial. 

"Nearly all its claims are procedurally barred; the overwhelming testimonial and documentary evidence adduced at trial conclusively established her guilt; and her petition's claims are demonstrably meritless, and generally based on speculation, distortions, and/or outright falsehoods," Judge Paul A. Engelmayer of the U.S. District Court for the Southern District of New York said in the 67-page decision.

"There is no fact that Maxwell fairly puts in dispute that has any potential to disturb the outcome of her trial."

Maxwell, 64, was Jeffrey Epstein's right-hand, who procured minor girls for prostitution. She faced multiple other charges when Epstein died in prison in 2019, stemming from her activities between 1994 and at least 2004, according to documents and other evidence introduced at her trial.

As the Epoch Times notes further, Maxwell was convicted in 2021 of participating in a conspiracy with Epstein that targeted minors for illegal sex acts. She is serving a 20-year prison sentence.

A federal appeals court in 2024 upheld the sentence, and the Supreme Court in 2025 denied Maxwell's request to review that ruling.

Maxwell said, in a petition filed under Section 2255 of the U.S. Code to overturn her conviction, that the release of materials following the appeal process should result in her conviction being vacated, including a transcript of testimony given to a grand jury in 2006 by a police detective who investigated Epstein.

The detective said then, according to the transcript, that a massage table was in a bathroom. Maxwell said that the detective testified that it was the north bathroom, which was different from the south bathroom he had identified at her trial.

The detective did not actually specify a bathroom in the 2006 testimony, though, the judge said in the new ruling.

Even if he had offered conflicting testimony as to the location of the massage table, Maxwell did not show that it would have been perjury rather than an inadvertent mistake.

"And had there been such an inconsistency between Detective Parkinson's 2006 and 2021 testimony as to this particular, such would have been highly unlikely to impeach Detective Parkinson's credibility, given that the search had occurred more than 16 years before his trial testimony, and his testimony in general, and about finding the massage table in the house in particular, was corroborated by other testimonial, documentary, and video evidence," the judge said.

That means it would not have had "a material effect on the outcome of the trial," he said.

Tyler Durden Tue, 08/25/2026 - 12:45