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Because it's Thanksgiving and U.S. markets are closed for the holiday, I thought I would put together a chart book highlighting the November markets as we head into the last month of 2025. As I pointed out on Twitter, Tech stocks peaked the week of Thanksgiving in 2021, whereas this year, Tech stocks peaked at the end of October. In 2021, December was a volatile rebound month and then the wheels came off the bus in January. This year, given the recent bounce off the lows, bu

First, an update from the last blog post... We have entered a lethal Twilight Zone between stock market rally and stock market crash. In this dubious gray zone of incipient market disintegration lives the most insidious lies that we have seen since this AI super bubble began. And the lies are large for a reason - because there is now blood in the water, hence the bagholders at large need to be convinced that this bubble is not a bubble. Or, if it is a bubble, it will continue

Entering the week of Monday November 10th, markets are bid on the belief that the end of the government shutdown is imminent. Hence there is now widespread belief that this is the beginning of the end of year Santa Rally. It's our job to ask in this largest Ponzi market of all time, what could go wrong? The health of this Potemkin economy now rests solely on this Asset Inflation (AI) bubble, because investors who are locked in their own happy AI circle jerk are spending freel

First off, an update on the AI bubble: Since my last blog post, I noted on Twitter that the people investing in this AI bubble are eagerly handing over control of the entire economy to the Tech Oligarchs. In a world in which the majority of wealth is already concentrated in the hands of a tiny minority, this AI bubble is leading to a final concentration of wealth in the hands of the few. By the end if AI is "successful", then all jobs will be commodified and the unemployment

AI is already smarter than the average human. Next stop, Chimpanzee... Where to begin... When OpenAI was founded ten years ago it was intended to be a non-profit organization scrutinizing the work of the AI industry to ensure the best outcomes for society. As has been thoroughly documented in the book Empire of AI by Karen Hao, over time OpenAI morphed from a non-profit to a partial profit to a take no prisoners porn purveyor which is where it is now. The safety concerns tha

Let me be the first and only pundit to acknowledge that the Artificial Intelligence super asset bubble is officially imploding. It's all falling apart while investors are celebrating. Reading this, GOP acolytes will assume that I blame Trump for all of the problems. I don't, I blame rampant ignorance for this collapse, putting Trump at the epicenter. He is joined by his entire economic team, financial media pundits, Wall Street, Silicon Valley, and the masses at large. Trade

Investors are aggressively positioned for rate cuts, because no one told them that rate cuts in a depression are not bullish. On Wall Street there can be no such thing as a reason to sell stocks. First off, let's start with the definitions for inflation versus deflation because people generally get hung up on these definitions based solely upon their own personal experience. By inflation I mean an economic scenario in which prices in the economy are rising faster than middle

In my last blog post I asserted that the pressure is off me now because Andrew Ross Sorkin who was formerly a writer at the WSJ and is now a morning commentator on CNBC, just asserted that this current market is reminiscent of 1929. However, what he didn't predict was when a crash would arrive and how big it would be. Which I thought was lame, and demanded further analysis. Let's start by saying that the magnitude of any crash whether it's 1929, 1987, March 2020, or even Apri

It's unfortunate that global central banks happen to be easing into the apex of the largest Tech bubble in world history. But you trade the market you're given, not the one you want: "Artificial intelligence and technology have contributed to a remarkable boom in recent years. But, Sorkin said, today's economy is being propped up by the AI boom, and it's too soon to tell if this is a sugar rush, a short-term and unsustainable boost to the markets. But, Sorkin is positive ther

Artificial Intelligence is bad for the economy, bad for financial markets, bad for the environment, and bad for society. Therefore it's...

We are now in a government shutdown induced data blackout in a record Tech bubble. But don't worry, be fat dumb and happy. The Fed is...

"And so we were told this is the golden age And gold is the reason for the wars we wage" Many people believe that if you short stocks...