On this day:
Protestant Reformation: Martin Luther posts his 95 Theses on the door of the Castle Church in Wittenberg.
1917
World War I: Battle of Beersheba – “last successful cavalry charge in history”.
1926
Magician Harry Houdini dies of gangrene and peritonitis that developed after his appendix ruptured.
1940
World War II: The Battle of Britain ends – the United Kingdom prevents a possible German invasion.
1984
Indian Prime Minister Indira Gandhi is assassinated by two security guards. Riots break out in New Delhi, and nearly 10,000 Sikhs are killed.
A federal grand jury in Houston, Texas, indicts former Enron Corp. chief financial officer Andrew Fastow on 78 counts of wire fraud, money laundering, conspiracy, and obstruction of justice related to the collapse of his ex-employer.
"I do think that we've gotten away from really celebrating our founders and our heroes. What they were doing in 1776 was incredibly radical, if you think about it. At that time, everyone accepted the divine right of kings. Everyone accepted hereditary rule. And our founders took Enlightenment ideas from John Locke and philosophers, and they turned it into the framework for a government. The idea of self-government and that our rights come from our Creator, that we have inalienable rights that are given to us by God and not from a king. Those were radical ideas of the time.
I like to say our founders were the first civil rights heroes, the first civil libertarians. And I think our education system has gotten away from that. They don't view them in the time that they existed, and suddenly now everything is oppressor versus oppressed narrative. And they are labeled more like colonizers or enslavers, and that's the only view that they're looked at, and not as human beings who sacrificed their very lives to write the Declaration of Independence, to form this country…it was an incredible, bold, and courageous act, but it was also an act of moral courage and philosophical courage."-Kelley Paul
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A NASA twin study (using now-Senator Kelly) shows chromosome changes during and after spaceflight, especially telomeres, related to longevity.
If telomeres lengthen during long spaceflight, why? Is it related to exercise, reduced body mass, altered metabolism, folate status, immune-cell shifts, radiation response or something else? If they shorten rapidly after landing, is that primarily re-entry stress, gravity readaptation, inflammation, immune remodeling or a change in circulating cell populations? And if critically short telomeres remain more common afterward, does that create meaningful health risk, or is it a temporary signal whose clinical meaning is still unclear?
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Saturn’s largest moon, Titan, is the only place besides Earth known to have standing liquid on its surface, and with it, rivers, rain, clouds, lakes, and seas fed by a weather cycle that runs much like our own. The rain and the rivers are liquid methane and ethane, and the ground they cut through is water ice, frozen so hard at Titan’s temperatures that it behaves like rock. It is the closest thing in the solar system to a working copy of Earth’s landscape, built from a completely different set of materials.
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Amazon, Alphabet, Meta and Oracle issued about $194 billion of bonds in 2026 through July 7, up from roughly $108 billion in all of 2025, according to Reuters. Goldman Sachs expects the five biggest hyperscalers, including Microsoft, to issue roughly $400 billion in bonds in 2027.
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SatStats
The Mets finished last in the N.L. East, with the highest payroll in baseball.
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79 NBA players are listed on the 2:30 PM injury report for the 10/28/26 games. That’s roughly 15% of the entire league.
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A monograph by Yi Fuxian, a University of Wisconsin-Madison demographer and longtime critic of China’s population policies, argues that China’s actual population may be closer to 1.27 billion—not the 1.4 billion officially reported. The gap would be as much as 130 million people, roughly the population of Mexico. And Yi argues the distortion has warped strategic thinking in both China and the U.S., feeding overconfidence in Beijing and anxiety in Washington.
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The Rays have the third-most wins in the American League since 2017, despite consistently operating with one of their lowest payrolls.
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Berlin and Los Angeles are comparable in size. Berlin has 18,000 cops, L.A. has 8,000. Because we have too few cops to get at the root of violent crime before it is even committed, we wind up spending a fortune on prisons instead. --From Gladwell's new book.
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At Harvard University, Black students account for just 9.3% of this fall's incoming class, down from 18% in 2023, the year the Supreme Court ruled against affirmative action in college admissions.
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In World War I, 150 German soldiers were sentenced to death for serious crimes, of which a mere forty-eight were executed. In World War II, thirty thousand death sentences were decreed by military courts, of which two-thirds were carried out, in addition to many more that took place without any judicial proceeding. By contrast the British executed forty men, the French 103, the Americans 146, almost all the condemned Allied soldiers having committed capital crimes as defined in civil law, rather than being sentenced for dereliction of military duty. Meanwhile, the Japanese executed 22,253 of their own men, and the Russians at least 150,000, possibly as many as 300,000.
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Texas produces more than Canada, with three-quarters of the population.
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Last year, China’s credit to the nonfinancial sector—a broad measure of corporate, government and household borrowings—topped 300% of gross domestic product. Chinese leader Xi Jinping is presiding over a dangerous spiral of debt that is strangling the economy at home and damaging trade partners around the world.
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Tampa Bay constructed its World Series roster with a staggering 17 of the Rays' 26 players acquired through trades. No other playoff team acquired more than 14 players through trades.
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The Debt Crisis
When Lehman Brothers Holdings Inc. collapsed, its U.S. operations had 1.2 million derivatives transactions outstanding with 6,500 trading partners.
In all, the contracts, which were tied to interest rates, bonds, currencies, commodities, and stocks, had a "notional," or theoretical, value of $39 trillion. (wsj)
The notional value of the world's derivatives actually was estimated at more than $600 trillion. Yes, $600 trillion. Notional value is the total value of a leveraged position's assets.
The Bank for International Settlements (BIS) estimated the net notional value of uncollateralized derivatives risks was between $2 trillion and $8 trillion
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The Democratic Republic of Congo sits on mineral deposits valued at an estimated twenty-four trillion dollars, a figure that turns up in advocacy material, mining-sector research and the United States government’s own commercial guide to the country, which notes that most of those resources remain untapped. The same country is described by the World Bank as among the five poorest nations in the world.
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Back-of-the-envelope estimates suggest that the global cost of cyber risk exposure is around $1 trillion per year.--Journal of Finance
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From 2000 through 2019 (just before COVID) the percentage of total job separations caused by non-retiring workers voluntarily quitting their jobs was 56%, while the percentage of total job separations caused by workers being involuntarily discharged was 38%.