"In 1975, New York City ran out of money. For a decade it had managed to pay for its hundreds of thousands of city employees and robust social services by taking on billions of dollars in debt. But eventually investors were no longer willing to lend the city any more money. New York teetered on the edge of bankruptcy the city shuttered more than a dozen firehouses, teachers went on strike and garbage piled up in the streets."
"On today's episode: Frozen and canceled federal dollars, America's intensifying tit-for-tat with China, and a sloppy trend infiltrating the music business. (With a pocket full of shells.) Listen here OpenAI's deals are looking a little frothy There have been many headline-grabbing AI deals recently: Nvidia investing up to $100 billion in OpenAI. OpenAI promising to buy $300 billion worth of computing power from Oracle. Oracle buying tons of chips from Nvidia."
New York City exhausted its ability to borrow in 1975 after a decade of financing large payrolls and social services with heavy debt. Investors stopped lending, forcing severe cutbacks: firehouses closed, teachers struck, and garbage accumulated. Economic coverage highlights frozen and canceled federal funds, escalating U.S.-China tit-for-tat measures, and a careless trend affecting the music industry. Large AI deals have drawn attention, including Nvidia's potential investment in OpenAI and massive computing purchases tied to Oracle. Additional topics include the industry defending schools from mass shootings, unusually high innovation rates, and various consumer scams.
Read at view.nl.npr.org
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