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The Cynic: November 4
The Cynic
November 04, 2025
BUSINESS
This Week’s Business News
Norway’s $2.1 Trillion Wealth Fund Joins Rebellion Against Musk’s $1 Trillion Tesla Payday
REUTERS
The world’s largest sovereign wealth fund said it will vote against Elon Musk’s proposed pay deal at Tesla, calling it “excessive” despite acknowledging his results.
It joins proxy advisors ISS and Glass Lewis in opposing the plan—though the package is still expected to pass thanks to retail investors and Musk’s loyal fan base.
When Norway thinks you’re being too greedy, it’s officially time to put down the flamethrower.
Trump Revives Fentanyl Working Group With China—Because Sanctions Alone Weren’t Cutting It
REUTERS | Jeenah Moon
In a diplomatic callback, Trump’s team and Beijing agreed to re-establish a joint task force to curb fentanyl production, part of broader trade talks.
Some tariffs will remain as leverage, but the administration says cooperation is better than escalation this time.
In geopolitics, “working group” usually means “we’ll meet again once everyone forgets this didn’t work last time.”
TSA Agents Keep Scanning Bags Through the Shutdown—Now With Slightly Better Pay
REUTERS | Hemanshi Kamani
Even with the government in partial shutdown, TSA agents are staying on duty—this time under improved pay and benefits that make skipping work less tempting.
Their average salary’s jumped from around $42,000 in 2019 to over $60,000, and attrition has dropped sharply.
It’s amazing what an extra $18k and fewer angry travelers can do for morale.
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REAL ESTATE
This Week’s Real Estate News
Adjustable-Rate Mortgages Are Back—Because Buyers Think Future Them Will Be Richer
AFP | Getty Images
With fixed mortgage rates still hovering near 7%, more homebuyers are turning to ARMs, which offer a lower initial rate that later resets (and often spikes).
Today’s ARMs average around 5.5%, saving borrowers upfront—but the risk comes when those rates start adjusting in a few years.
It’s like buying a cheaper house now and gambling your 2030 paycheck on vibes.
Small-Town America Is Now Data Center America—and Not Everyone’s Thrilled
Courtesy of Zuri Gardens
Places like Umatilla, Oregon are being transformed by giant data centers built by Amazon and Google. Property taxes have surged, home prices doubled, and power demand exploded.
Locals love the revenue, but not the noise, light pollution, or skyrocketing costs of living.
It’s like living next to Willy Wonka’s factory—if Willy ran on diesel and burned through the grid.
Fannie Mae CEO Steps Down Abruptly, Replaced by Acting Chief Peter Akwaboah
REUTERS
CEO Priscilla Almodovar unexpectedly resigned after two years leading the mortgage giant. Fannie Mae’s COO Peter Akwaboah will serve as acting CEO while the board searches for a successor.
The company says it’s “business as usual,” which is corporate code for “we’re still processing that Slack message.”
In mortgage land, even leadership transitions have 30-year terms.
“You guys cheer me up.”
FUN
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I’m watched by millions but built by fear.
I make the bold rich, the calm secure,
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ADVICE
This Week’s Business Advice
“If your company needs a new meeting to talk about the last meeting, you don’t need better strategy—you need better people.”
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