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TRUMP: OIL COMPANIES GOING IN TO IRAQ NOW FOR PARTNERSHIPS || OIL FIRMS ALL GOING IN, GETTING ALONG WITH IRAQ

*WARSH: FED HAS ’NO TOLERANCE’ FOR PERSISTENTLY HIGH INFLATION

Supercore services -0.2% MoM!

Fed was doing $40-50B per month QE, split between half a dozen Wall Street banks; why is this a success, given the tail wind 💸? Another Nobel prize coming for former Fed Chair, for Powell... 🏆🥇

Former Fidelity fund manager George Noble says the AI bubble is 17x bigger than dot-com - and the fallout will be "much worse" "Show me the money. Where's the ROI? I don't see it - and I don't see it coming." Peter Lynch's former analyst lived through the dot-com crash. Here's why he says this one is far more dangerous: > Show Me the Money (01:11): - He's not anti-AI - he's anti-price Every bubble starts with "a kernel of truth," then the price detaches. His one question no one can answer: where is the ROI? > The 17x Bubble (02:20): - He cites economist Julian Garrett's calculation that this malinvestment is 17 times the size of dot-com - and the sums are "so much larger relative to the real economy" > SpaceX at 120x Revenue (03:14): - On the SpaceX IPO: "buying companies at over 10x revenues usually ends very badly." This one priced at ~120x. He'd sell it "right away" > The Lockup Trap (03:53): - The danger even if nothing changes: SpaceX floats just 5% now, unlocking to 100% by December. When insiders who got in at 1/10th the price "hit the bid," it drops > The Biggest Misallocation in History (06:26): - His verdict on Tesla: "probably the biggest misallocation of capital at scale in the history of stock markets - perhaps only surpassed by SpaceX" > Where He'd Hide Instead (08:27): - His rotation out of AI: energy ("sleepwalking into the biggest energy dislocation in history") and gold miners - one name at "7x earnings, not cash flow" Bookmark & Watch Now ↓

What really matters to the market and the US economy is not the Strait of Hormuz.

The most important chart in the world right now. Few understand the gravity of this massive symmetrical pattern resolving to the upside. It is sitting on the absolute precipice of breakout. The consequences will be dire. Only a equities deleveraging event can stop this nightmare from igniting. Yours truly, The Great Martis.

When the KOSPI collapses and it won't be the only index to go the history books will focus on how a market movement could get so violently ahead of itself. In just a few months, investors have priced in decades of future earnings instead of allowing for a gradual, healthy rise. While irrational exuberance has triggered devastating sell-offs in the past, the sheer ferocity of this ascent is entirely unprecedented. Unfortunately, the unwinding will be even more biblical than the surge. We have already witnessed two circuit breakers, yet on the long-term chart, those frantic halts look like a mere blip. Imagine the impending chaos across global exchanges. We are staring down the throat of daily, perhaps even hourly, circuit breaker activations. This cascading panic will likely force regulators to shut down entire exchanges for days just to let the smoke clear.

Eyes on OIL as it bounces off major levels of support, with the RSI sitting in significantly oversold territory. Since it has officially closed its gap, a successful backtest and push back toward 84 is a high-probability setup.